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by Stockwatch Business Reporter

The TSX Venture Exchange fell 9.58 points to 1,001.52 Thursday. Dennis Chi-Wai Tam's halted capital pool shell, Alpha Peak Leisure Inc. (AAP), plans to acquire Total Wonder Enterprises Inc. as its qualifying transaction. The target is a Chinese company that has the right to operate the Swallows' Gully tourism destination in Sichuan province. Alpha Peak is the priciest capital pool shell on the TSX-V. It last traded at $1.40, a significant premium to its 10-cent IPO, and has a market capitalization of $14.28-million. That is impressive for a TSX-V company with no assets other than a working capital of about $600,000.

Alpha Peak will issue 45,356,000 shares to the target's shareholders, all of whom are Hong Kong residents or companies and include Kai Sing So, Ka Yin Richard Chan and CN Lifestyle Ltd., a subsidiary of the Chungnam Group (a Hong Kong conglomerate that employs 10,000). The target generates revenue by charging entrance fees to the tourist destination, where visitors can climb part of the Gongga Mountain, view red rocks and travel through a forest. It is a destination preferred by nature lovers, mostly from other parts of China. The fees to enter the destination are between 140 and 200 renminbi, which works out to between $25 and $35 in Canadian dollars. Total Wonder Enterprises does not say how much revenue it generates by operating the tourism site, but that information will arrive in an upcoming filing statement.

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