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by Stockwatch Business Reporter
The TSX Venture Exchange lost 4.75 points to 828.07 Tuesday. Peter McKeown has filed a preliminary prospectus to list his first capital pool shell, MG Capital Corp. The shell plans to sell a $250,000 initial public offering at 10 cents through Leede Jones Gable Inc.
MG Capital has 3.01 million escrowed shares, which it sold at five cents in December. Mr. McKeown, 62, an accountant in Canmore, Alta., holds 670,000 of the escrowed shares. He has been a director of at least 15 public companies since the 1990s, mostly mining and energy juniors. In 1994, he was a director of Canadian Mining Resources Inc., which at the time was seeking gold in Saskatchewan. In 1995, Canadian Mining remade itself into Axia Multimedia Corp., a maker of compact discs. Then in 1998, the company changed once more, becoming an Alberta broadband network operator called Axia NetMedia Corp. Mr. McKeown resigned from Axia's board in 2001 but remained as its chief financial officer until 2011. These days, he is not a director or officer of any public company.
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