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by Stockwatch Business Reporter

The TSX Venture Exchange gained 1.71 points to 771.80 Wednesday. Shabir Premji's first capital pool shell, P Squared Renewables Inc. (PSQ), listed today. It opened at 14 cents and closed at 15 cents on 139,000 shares. P Squared sold a $300,000 initial public offering at 10 cents, through Leede Jones Gable Inc.

Mr. Premji, a Calgary accountant, was a senior manager at KPMG LLP from 1978 to 1988. From 2004 to 2011, he was the executive chairman of Alberta Oilsands Inc., which is now a part of Marquee Energy Ltd. (MQX: $0.06). Under Mr. Premji's watch, Alberta Oilsands peaked at $2.40 in 2007.

Last year, Mr. Premji joined the board of West Mountain Environmental Corp. (WMT), a waste treatment company that is cease traded for failing to file its financials. On July 4, the Court of Queen's Bench of Alberta will appoint a receiver over West Mountain's assets, as sought by a creditor to which West Mountain owes $4.27-million. Then on July 6, West Mountain will lose the licence for its waste treatment technology, because it has not been paying royalties. To prevent these from happening, West Mountain is working on a $7-million to $14-million equity and debt financing with a Calgary energy and tech investor, the Walker McNeil group of companies.

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