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by Stockwatch Business Reporter

The TSX Venture Exchange fell 1.60 points to 604.48 Wednesday. James Decker and Johnny Ciampi have listed their first capital pool shell, Valdy Investments Ltd. (VLDY), with a $250,000 initial public offering at 10 cents. The shell's IPO agent was Leede Jones Gable Inc. Not unusually for a shell, Valdy did not trade today.

Mr. Decker, 51, lives in Vancouver and has worked at a property management firm called JDAK Properties Ltd. and at a real estate investment firm called Holbrooke Capital Ltd. Over the years, he has also provided investor relations and corporate consulting services to customers such as consumer products companies. Valdy Investments is his first public company directorship.

Mr. Ciampi, 48, is an accountant in Vancouver. He is the vice-president of Maxam Capital Corp., a private equity firm. Maxam's investments have included Geodrill Ltd. (GEO: $1.31), which is a drilling services provider, and easyhome Ltd., which is a lending firm that now trades as goeasy Ltd. (GSY: $49.14). Two weeks ago, Mr. Ciampi joined the board of Geodrill. He is also a director of Premium Brands Holdings Corp. (PBH: $83.96) and Diversified Royalty Corp. (DIV: $3.18).

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