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by Stockwatch Business Reporter

The TSX Venture Exchange lost 2.20 points to 705.12 Thursday. Wade Nesmith has filed a preliminary prospectus to list his second capital pool shell, Creation Capital Corp. It plans to sell a $500,000 initial public offering at 10 cents through Canaccord Genuity Corp.

Mr. Nesmith, 66, a securities lawyer, was the superintendent of brokers for British Columbia from 1989 to 1992. This is the second time that he is listing a capital pool shell as its promoter and chief executive officer, but he has sat on the boards of several more capital pool shells. He listed his first, Parran Capital Inc., in March, 2006, with a $350,000 IPO at 20 cents. In June, 2008, Parran rolled back 1 for 7.5 and launched a Chinese cornstarch manufacturer, Asia Bio-Chem Group Corp. Considering the rollback, Parran's IPO shareholders needed $1.50 to break even. Asia Bio-Chem traded between 40 cents and $1.70 in its first three years. It gave Parran's IPO shareholders a few opportunities to get out of their investment with a profit, though not right away. After three years, Asia Bio-Chem's stock descended to pennies and never recovered. The company became insolvent, for which it blamed the high price of corn in China. It finally delisted in October, 2016.

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