This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange gained a fraction to close at 777.70 Tuesday. Joe DeVries has filed a preliminary prospectus to list his second capital pool shell, Anquiro Ventures Ltd. The shell plans to sell a $200,000 initial public offering at 10 cents, through Haywood Securities Inc.

Mr. DeVries, 57, is the president of Petrichor Energy Inc. (PTP: $0.03), a Texas oil and gas junior that peaked at 58 cents in 2014. He is also the president of Altima Resources Ltd. (ARH: $0.05), an Alberta oil and gas junior that peaked at 16 cents in 2013 and has since rolled back 1 for 15. Mr. DeVries has been a director of about 20 other public companies, including Sniper Enterprises Inc., which in the late 1990s manufactured hockey sticks. He was also a director of Joe Charland's capital pool shell, Damon Capital Corp., which last year launched Arizona Silver Exploration Inc. (AZS: $0.275).

Mr. DeVries listed his first capital pool shell, Precision Enterprises Inc., in March, 2007, with a $400,000 IPO at 10 cents. His fellow directors at Precision were colleagues from Sniper, from Altima and from Petrichor's predecessor, Odyssey Petroleum Corp. They were Whitney Pansano, Rick Switzer, Drew Maness and Ron Hughes. Mr. DeVries lined up two potential qualifying transactions for Precision Enterprises. The first was a medical device deal, which the shell cancelled in July, 2010, after it failed to sell a $3-million private placement at 25 cents. In December, 2013, Precision rolled back 1 for 3 in connection with its second QT attempt, a Gabonese mining deal. Nine months later, the shell called off this deal because of disappointing assays. Today, Mr. DeVries's first capital pool shell remains a capital pool shell, but it is now called Allante Resources Ltd. (ALL: $0.05). Still with him on the shell's board are Mr. Maness (an engineer) and Mr. Hughes (a former broker).

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS