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by Stockwatch Business Reporter

The TSX Venture Exchange gained 3.93 points to 776.85 Thursday, ending the month up 6.49 points. Jonathan Younie has filed a preliminary prospectus to list his first capital pool shell, Baetis Ventures Ltd. The shell, named after a type of mayfly, plans to sell a $200,000 initial public offering at 10 cents, through Chippingham Financial Group Ltd.

Baetis has two million escrowed shares, which it sold at five cents in February. Mr. Younie, 48, holds one million of the escrowed shares. He is an associate of long-time promoter Paul Larkin. Mr. Younie is the corporate finance manager at Mr. Larkin's New Dawn Holdings Ltd., an investment and financial consulting firm in Vancouver. Mr. Younie is the chief financial officer of Mr. Larkin's halted capital pool shell, Gstaad Capital Corp. (GTD). Gstaad, named after a village in Switzerland, is working on its qualifying transaction with Archer CleanTech Inc., a clean energy project manager based in Kelowna. Mr. Younie is also the CFO of Mr. Larkin's NEX shell, Tyner Resources Ltd. (TIP: $0.145), which does not have a deal in progress. From October, 2015, to July, 2017, Mr. Younie was a director of Velocity Minerals Ltd. (VLC: $0.34), which at the time was an NEX shell under Mr. Larkin. In July, 2016, Mr. Larkin sold an $840,000 private placement of Velocity shares at six cents. This represented a 20-per-cent discount from the then market price of 7.5 cents. There were 16 subscribers, of whom only three were required to identify themselves, because they were insiders: Mr. Younie, who bought 333,334 shares; promoter Dennis Higgs, who bought 2,333,333 shares; and Mr. Higgs's brother, Darcy Higgs, who bought 2,333,334 shares. In February, 2017, Mr. Larkin arranged a Bulgarian gold mining deal for Velocity. In connection with the property option, the shell sold a $2.21-million private placement at 25 cents. Who acquired the 8.84 million shares is not for investors to know, according to a recent rule change by the British Columbia Securities Commission. "Privacy" is the excuse. Before Velocity announced the financing, it last closed at 24.5 cents, so the subscribers did not enjoy a discount. Nevertheless, they are up on paper today. (Their shares will remain under a hold period for three more months.) The 25-cent financing and the gold option deal closed last month. If Mr. Younie still holds his Velocity shares today, then he would be up by $93,333.

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