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by Stockwatch Business Reporter

The TSX Venture Exchange added 6.94 points to 997.56 Tuesday. Tomorrow, Simon Yakubowicz's Cluny Capital Corp. (CLN) will list on the TSX-V, the first capital pool shell to list in August and the ninth this year. By this time last year, 26 capital pool shells had already listed, but despite the lower number of new arrivals this year there are still plenty of capital pool shells in search of a target for a qualifying transaction. Including Cluny, there are 158 capital pool shells floating on the exchange, of which 38 are suspended, 49 are halted, and 71 are (sometimes) trading and looking for a business. All Group Financial Services Inc., an introducing broker in Toronto, sold Cluny's $446,740 initial public offering of 2,233,700 shares at 20 cents.

Cluny has 1.5 million shares in escrow that sold at 10 cents. Mr. Yakubowicz, the shell's 60-year-old chief executive officer, is the largest shareholder with 850,000 escrow shares. Although Cluny is Mr. Yakubowicz's first capital pool shell, he should be a good promoter: he owns eight car dealerships in Toronto. Car dealers make good stock promoters.

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