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by Stockwatch Business Reporter
The TSX Venture Exchange fell 4.37 points to 576.03 Friday, ending the week down 10.75 points. Randy Clifford has filed a preliminary prospectus to list his fourth capital pool shell, ANC Capital Ventures Inc., with a $350,000 initial public offering at 10 cents. Its IPO agent is Mackie Research Capital Corp.
Mr. Clifford, 70, is a self-described management consultant in Edmonton. He was the chairman and chief executive officer of Cash Canada Group Ltd., a pawnshop chain that traded up to 55 cents on the TSX-V in 2004. Mr. Clifford left the company in 2006. It went bankrupt in 2009 and delisted in 2010.
Mr. Clifford's first capital pool shell, Firebird Capital Partners Inc., closed an Alberta oil exploration deal for its qualifying transaction in 2011. The shell's IPO shareholders had almost no opportunity to get out of their investment with a profit, so we consider the shell to have been a failure for them. Mr. Clifford's second capital pool shell, Wedona Capital Inc., closed its QT in 2013 by launching an on-line gaming and gambling company, Isis Lab Corp., which later changed its name twice and then was taken private. Isis gave Wedona's IPO shareholders about 1-1/2 years to get out of their investment with a profit, so we consider Wedona to have been a success for them. So far, Mr. Clifford has a shell-making record of one success and one failure for his shells' IPO investors.
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Illegal grow rooms is criminal, where is OSC? Oh the fees from daily trading that important, so does that make OSC also criminal?