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by Stockwatch Business Reporter
The TSX Venture Exchange fell 13.58 points to 741.87 Friday, ending the week down 47.26 points and the month down 27.72 points. Three new capital pool shells -- David Danziger's Aumento Capital V Corp. (AMN), Rocky Bellotti's BFK Capital Corp. (BFK: $0.70) and Larry Doan's Marching Moose Capital Corp. (MMC: $0.15) -- arrived on the TSX-V this month, while six capital pool shells graduated from the sector after completing qualifying transactions. We mentioned those six capital pool shells in yesterday's Shell Summary. The month ends with 152 capital pool shells on the TSX-V and the NEX, of which 45 are halted, 39 are suspended, and 68 are trading, many of which are searching for a QT.
John Albright and Sheldon Inwentash's halted NEX shell, ZipLocal Inc. (ZIP), will ask shareholders at a Dec. 15 meeting to obliterate their shareholdings by approving: (i) a rollback of up to 1:30; then (ii) a conversion of outstanding debentures into postconsolidated common shares; followed by (iii) a second rollback of up to 1:8.09. Shareholders may want to think twice before skipping this meeting. The shell requires approval from two-thirds of the votes cast to approve the consolidations, which when combined creates a mammoth-sized rollback of 1:242.7 of the shell's 78,478,623 shares outstanding.
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