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by Stockwatch Business Reporter

The TSX Venture Exchange fell 1.63 points to 787.50 Monday. Todd Hilditch has filed a preliminary prospectus for his new capital pool shell, Riley Resources Ltd. John Tognetti's Haywood Securities Inc. in Vancouver is handling the shell's $200,000 initial public offering of two million shares at 10 cents. The Vancouver brokerage firm seldom lists capital pool shells. It last listed Harry Barr and Gordon Chunnett's Southern Sun Minerals Inc. (SSI: $0.03) in April, 2013. Southern Sun has since optioned a gold property in Alaska for a QT, but is already looking for other things to do.

Riley has already sold 4.6 million escrow shares at five cents to eight insiders. Mr. Hilditch, the shell's 46-year-old founder and chief executive officer, is the largest shareholder with one million escrow shares. This is his third capital pool shell, and if he has the same intentions with Riley as he did with his previous two shells, then he will remain with the company after the QT rather than selling it to another group. Mr. Hilditch listed his first capital pool shell, Rock Capital Corp., on the Alberta Stock Exchange in August, 1996, when he was around 28 years old. Rock sold two million IPO shares at 10 cents. In March, 1998, the shell went into the oil and gas business in Saskatchewan, eventually changing its name to Terraco Energy Corp. In 2003, it became a gold explorer in Nevada, changing its name to Terraco Gold Corp. (TEN: $0.17), with Mr. Hilditch still in charge. He remains president of Terraco and has yet to roll back the stock after nearly 20 years of promotion. During those years, the stock spent most of its time well above the original IPO price of 10 cents, only declining below it in 2008 and 2009. Terraco was a success for Mr. Hilditch and his IPO investors.

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