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by Stockwatch Business Reporter

The TSX Venture Exchange fell 2.62 points to 782.07 Thursday. Alan Friedman's second capital pool shell, Tova Ventures II Inc. (TOVA: $0.15), began trading today. There was one trade for 500 shares at 15 cents. Tova Ventures II sold a $350,000 initial public offering at 10 cents, through Richardson GMP Ltd.

Mr. Friedman is the president of Rivonia Capital Inc., a management company in Toronto. He is also the president of Osino Resources Corp., a Namibian gold junior that is being acquired for shares by Anish Sunderji's Romulus Resources Ltd. (ROM: halted). Mr. Friedman is also a director of: Eco Oil & Gas Ltd. (EOG: $0.32), which is an oil explorer in Namibia and Guyana; Cronos Group Inc. (MJN: $3.03), a marijuana investment company; and AIM1 Ventures Inc. (AIMI: $0.175), which is Marc Sontrop and Aaron Salz's first capital pool shell.

Mr. Friedman's first capital pool shell, Tova Ventures Inc., completed its qualifying transaction in 2010 by launching a Namibian gold explorer called Auryx Gold Corp. In 2011, Auryx was acquired by B2Gold Corp. (BTO: $3.33) for 88 cents a share, in cash and shares. The original Tova's IPO shareholders had sufficient opportunity to get out of their investment with a profit after the shell closed its QT, so we consider Mr. Friedman's first shell to have been a success.

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