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by Stockwatch Business Reporter

The TSX Venture Exchange added 5.79 points to 1,017.44 Friday, ending the week up 5.2 points. Ronald Schmeichel, a prolific shell packager in Toronto, has filed a preliminary prospectus for a new capital pool shell, Mira IV Acquisition Corp. Richardson GMP Ltd. is handling the shell's $1-million initial public offering of 10 million shares at 10 cents. The brokerage firm has yet to list a capital pool shell this year, but it has already filed final prospectuses for two others, Anchor Capital Corp. and Rodeo Capital III Corp., so Richardson should soon have three capital pool shells on its shelf.

Earlier this month, Mira IV sold 20 million escrow shares at five cents for $1-million, which is odd considering that according to Policy 2.4, Section 3.2(e), "The maximum amount of seed share capital raised by seed shares issued at less than the IPO price can be no greater than $500,000." Peter Varsanyi, the TMX Group's representative at the Calgary office, speculated it is possible that the shell is expecting a special dispensation, but he noted that the exchange's Vancouver office is handling the initial application. Andy Creech, the contact in the Vancouver office, is away until next week. Similarly, nobody in Mr. Schmeichel's office who might be able to answer the question was available.

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