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by Stockwatch Business Reporter
The TSX Venture Exchange gained 4.30 points to 726.50 Wednesday. Stuart Olley has listed his first capital pool shell, Cassowary Capital Corp. Ltd. (BIRD), with a $400,000 initial public offering at 10 cents. Its IPO agent was Richardson GMP Ltd. The stock has yet to trade.
Mr. Olley is a partner at Gowling WLG in Calgary. He co-leads Gowling's natural resource group. He has been a director or officer of about half a dozen public companies, including Boardwalk Real Estate Investment Trust (BEI: $50.57), but none besides Cassowary since 2010. He and his three fellow shell directors, who are all lawyers, each hold one million of the shell's 10 million escrow shares.
In the happy event that these lawyers' ship comes in, their one million shares each could make them among the wealthiest partners at Gowling's Calgary office.
Mr. Olley's three fellow directors are Martin Mix, Gordon Chmilar and Guy Lander. Mr. Mix and Mr. Chmilar are among the 50 partners at Gowling's Calgary office. Mr. Lander is a partner at Carter Ledyard & Milburn LLP in New York.
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