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by Stockwatch Business Reporter

The TSX Venture Exchange gained 12.76 points to close at 711.36 Monday. Jean-Robert Pronovost has filed a preliminary prospectus to list his first capital pool shell, Physinorth Acquisition Corporation Inc. Physinorth plans to sell a $360,000 to $500,000 initial public offering at 15 cents through Jitney Trade Inc.

If Physinorth's name seems familiar, that might be because Mr. Pronovost previously filed prospectuses for it. In October, 2017, there was a prospectus for a smaller IPO of $200,000 to $400,000. The IPO price then was also 15 cents, and the IPO agent was also Jitney Trade. Then in December, Mr. Pronovost filed a prospectus for a $300,000 to $500,000 IPO. Now, he has once again increased the size of the offering. Should this one not happen, Physinorth will be in danger of being known as Fizzlenorth.

Mr. Pronovost, 54, is the managing partner of Cape Partners Inc., a private equity firm in Montreal. Before co-founding Cape in 2005, he was a partner at a venture capital firm, IUGO Ventures Inc. Earlier, he was an M&A and corporate finance adviser for four years with Credit Suisse First Boston and was an analyst for five years with Caisse de depot et placement du Quebec. At Physinorth, Mr. Pronovost holds 266,667 escrow shares. Physinorth sold its 2,053,335 escrow shares at 7.5 cents in July, 2017.

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