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by Stockwatch Business Reporter
The TSX Venture Exchange fell 13.78 points to 910.84 Wednesday. Robin Hutchison has filed a preliminary prospectus to list his second capital pool shell, RMR Science Technologies Inc. The shell plans to sell a $500,000 initial public offering at 10 cents, through PIFinancial Corp.
Among RMR Science's shareholders are the owners of 2.6 million escrowed shares, which the company sold at five cents in November. Mr. Hutchison, a tech and biotech promoter in Surrey, B.C., holds 1.2 million. Mr. Hutchison spent the 1990s working with several tech start-ups. In October, 1997, he listed his first capital pool shell, Chelsea Mercantile Bancorp Ltd., on the Alberta Stock Exchange. Chelsea sold a $200,000 IPO at 10 cents. It then did nothing, so in 1999 it was suspended. In 2001, the shell was finally ejected from the exchange, which by then was called the Canadian Venture Exchange. During the period that Chelsea was listed, from 1997 to 2001, Mr. Hutchison was also the chief executive officer of eCharge Corp., a privately held Internet payments company.
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