by Stockwatch Business Reporter
The TSX Venture Exchange fell 16 points to 1,276 on Monday. Rick McGraw has returned with a new shell, Killbear Acquisition Corp. (KBA), which arrives Tuesday. This is the first shell to list since June 1 when John Kowalchuk's Atoro Capital Corp. (TTO: $0.08) began trading.
Killbear recently completed a $413,140 initial public offering, selling 4,131,400 shares at 10 cents. There are also 3.2 million shares in escrow that sold at a nickel. Three of the shell's directors, Mr. McGraw, G. Mark Curry and Paul Little, each own one million escrow shares. The remaining 200,000 escrow shares belong to the shell's chief financial officer, Christopher Seed. These four men were also behind Sargasso Capital, a shell which last year launched C2C Industrial Properties Inc. (CCH: $5.65). The price of C2C's stock would be impressive, if not for the 1:25 rollback completed in April, 2012. The company is now run by two well-connected and competent businessmen, Brian Spence and David Wright, the founders of Canadian real estate company Strathallen Capital Corp.
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