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by Stockwatch Business Reporter

The TSX Venture Exchange gained a fraction to close at 776.60 Monday. Chuck Rifici has filed a preliminary prospectus to list his first capital pool shell, Buzz Capital Inc. The shell is selling a $420,000 initial public offering at 10 cents, through Haywood Securities Inc.

Buzz Capital has four million escrowed shares, which it sold at five cents in February. Mr. Rifici, 42, an accountant in Ottawa, holds 800,000 escrowed shares. From September, 2011, to June, 2016, he was the treasurer of the Liberal Party of Canada. He is a first-time shell director, but he has been involved in shell deals before. He was the chief financial officer of a digital marketing company called Sitebrand Inc., which went public in 2008 through long-time shell-maker Brian Bayley's capital pool shell, Pretium Capital Corp. Pretium's IPO shareholders, who paid 25 cents a share, had no opportunity to get out of their investment with a profit; Sitebrand remained below 11 cents until 2011, when it filed for bankruptcy.

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