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by Stockwatch Business Reporter

The TSX Venture Exchange lost 5.70 points to 773.99 Wednesday. Patrick Langlois's first capital pool shell, Angus Ventures Inc. (GUS: $0.35), began trading today. There was one trade at 35 cents for 2,000 shares. Angus sold a $200,000 initial public offering at 10 cents, through Haywood Securities Inc. It also sold a $1.49-million private placement at 10 cents.

The shell was founded not by Mr. Langlois but by Toby Pierce, 44, a former well site geologist. Mr. Pierce was the lead oil and gas analyst at GMP Europe Securities LLP in London from 2010 to 2012. He now lives in Vancouver and is the chief executive officer of TAG Oil Ltd. (TAO: $0.55), an oil and gas producer in New Zealand and Australia.

In June, 2012, Mr. Pierce listed his first capital pool shell, Crest Petroleum Corp., with a $200,000 IPO at 10 cents. He listed Crest with a shell-making partner, Adam Cegielski, 41, a management consultant in Oakville, Ont. Mr. Pierce and Mr. Cegielski had hoped to find an oil and gas deal for Crest. They each took a turn as Crest's CEO until April, 2015, but they failed to close a qualifying transaction. Finally, in October, 2016, under CEO Richard Silas, Crest closed a gold mining deal and launched GFG Resources Inc. (GFG: $0.72). Mr. Pierce and Mr. Cegielski do not get credit for closing this QT.

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