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by Stockwatch Business Reporter

The TSX Venture Exchange closed up a fraction to 715.16 Friday, ending the week up 3.10 points. Dean Parmar has listed his first capital pool shell, Canna 8 Investment Trust (RCR), with a $600,000 initial public offering at 10 cents. Its IPO agent was Canaccord Genuity Corp. The stock has yet to trade.

Canna 8 is a trust, rather than a corporation, because it plans to seek a real estate deal for its qualifying transaction. It then expects to become a Canadian real estate investment trust. The shell says nothing about cannabis, despite its name, but perhaps it is seeking marijuana-related properties such as cultivation facilities or retail stores.

Mr. Parmar, 54, is the president and chief executive officer of Simplex Investment Corp., a commercial and residential real estate developer in Alberta. He also has a company called Group Three Property Management Ltd., which manages two million square feet of commercial properties and 10,000 residential units in Alberta.

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