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by Stockwatch Business Reporter
The TSX Venture Exchange gained 4.68 points to 890.80 Friday, ending the week up 10.36 points. Alex Tzilios's first capital pool shell, Savanna Capital Corp. (SAC), began trading today. It opened at 20 cents and closed at 21.5 cents on 27,200 shares. Savanna sold a $250,000 initial public offering at 10 cents, through Leede Jones Gable Inc. Mr. Tzilios, 35, is the president of Pacific West, a Vancouver property management firm that is part of Century 21. Previously, he spent 11 months in 2008 as the investor relations man for two mining juniors, Oro Gold Resources Ltd. and Oro Silver Resources Ltd.
Mr. Tzilios's fellow shell directors include Rob Gamley and Brent Lokash. Mr. Gamley is the IR man for manufacturing company Atlas Engineered Products Ltd. (AEP: $0.60), biotech firm Immunoprecise Antibodies Ltd. (IPA: $0.58) and fibre optics supplier Lite Access Technologies Inc. (LTE: $1.28). Mr. Lokash is a lawyer, who has listed two capital pool shells of his own. One of those shells was a success for its IPO shareholders, while the other was a failure. We consider a capital pool shell to have been a success if its IPO shareholders had sufficient opportunity to get out of their investment with a profit, reasonably soon after the shell closed its qualifying transaction.
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