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by Stockwatch Business Reporter

The TSX Venture Exchange gained 4.80 points to 762.32 Monday. Nathan Smith's capital pool shell, Value Capital Trust (VLU), began trading today. It reached an intraday high of 17 cents before closing at 15.5 cents on 90,000 shares. Value Capital sold a $500,000 initial public offering of trust units at 10 cents, through Echelon Wealth Partners Inc.

The shell is a mutual fund trust, rather than a corporation, because the trust structure offers benefits for the type of qualifying transaction which the shell has in mind: Value Capital plans to seek a real estate deal.

Mr. Smith is an accountant in the Cayman Islands and a first-time shell-maker. He is a director and the chief financial officer of 60 Degrees Group SEZC Ltd., an investment advisory firm. Between September, 2010, and July, 2013, he was a manager at PricewaterhouseCoopers on Grand Cayman Island.

Mr. Smith's fellow shell trustees are Jordan Calonego, David Beckow and Anthony Dutton. Mr. Calonego is a chartered financial analyst in Thunder Bay, Ont. Mr. Beckow is a director of Pareto Capital Partners Ltd., a real estate investment and advisory firm in Vancouver. Mr. Dutton is the principal of Delu Corp., a financial advisory firm in Vancouver. He is also a director of Trakopolis IoT Corp. (TRAK: $1.05), a logistics software company.

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