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Shell Summary for March 3, 2015

2015-03-03 21:07 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell two points to 702.30 Tuesday. Amar Bhalla's new capital pool shell, LL Capital Corp. (LLA), will list tomorrow on the TSX-V, making it the first shell to list in March and the fourth this year. This is also Mr. Bhalla's second capital pool shell of 2015, following Carlaw Capital V Corp. (CVC: $0.20), which went public last month at 20 cents. So far, 2015 has been a busier year for new capital pool shells than was 2014. By this time last year only two capital pool shells had listed.

Darrin Hopkins, a broker at Richardson GMP Ltd., sold LL Capital's $300,000 IPO of three million shares at 10 cents. LL Capital also has six million shares in escrow that sold at five cents. Mr. Bhalla, 37, is the largest shareholder with 3.2 million escrow shares. This is his sixth capital pool shell and the first not to have the word Carlaw in it. We discussed Mr. Bhalla and his five Carlaw Capital shells (I, II, III, IV and V) in the Shell Summary for Feb. 13, concluding that of the four Carlaw Capital shells that have completed their QTs, one was a success and three were failures. Success, by our definition, is when an IPO shareholder can sell his position at a good profit within a year or so after the QT closes.

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