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by Stockwatch Business Reporter
The TSX Venture Exchange fell 12.15 points to 728.19 Wednesday. There are no new shell deals to discuss, but there is a brief update from Peter Chen's capital pool shell, Inceptus Capital Ltd. (ICI: $0.15). This shell said in January that it was conducting due diligence on potential qualifying transactions in the following sectors: oil and gas services, health and wellness, and marijuana. Now, Inceptus says it has narrowed its focus to oil and gas services. It boldly claims that the oil and gas services sector "will offer the most long-term growth potential for any investment." Inceptus provides no other details yet about any QT target.
Inceptus listed in November, 2017, with a $214,750 initial public offering at 10 cents. Its founder, Mr. Chen, is an accountant and management consultant in Richmond, B.C. He is a first-time shell president, but he was a director of Dr. Terrance Owen's capital pool shell, Duft Biotech Capital Ltd., which in 2003 launched Alda Pharmaceuticals Corp. (now called Vanc Pharmaceuticals Inc. (VANC: $0.16)). Mr. Chen remained the chief financial officer and a director of Alda until 2012. Dr. Owen, who holds a PhD in zoology, left in 2014. These days, Dr. Owen and Mr. Chen are both directors of Eastwood Bio-Medical Canada Inc. (EBM: $0.245), a distributor of natural health supplements.
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