About
Us
Who we are
We are Thermopylae Capital Inc., a Capital Pool Company (CPC) under the TSX Venture Exchange’s Policy 2.4, based in Toronto, Ontario.
On September 24, 2025, we received final approval from the Ontario Securities Commission for our prospectus, marking a significant milestone in our journey to list on the TSXV. Through our initial public offering (IPO), we aim to raise up to $500,000 by issuing up to 5,000,000 common shares at $0.10 each.(see news release)
Guided by President Nicholas Demos and CEO Ken Matziorinis, we are dedicated to executing a strategic qualifying transaction to deliver long-term value for our investors. For more details see the tab Info & Docs.
Our Team
Nicholas Demos President
I’ve spent over 25 years helping companies grow, access capital, and expand across borders—primarily between Canada and Europe.
As a Partner at ELCA GUIDE Inc., I work with businesses entering new markets, identifying strategic partners, and assessing acquisition targets.​In past roles, I’ve supported numerous cross-border M&A transactions and helped companies list on major stock exchanges, including Deutsche Börse and NASDAQ.
I’ve also led investor relations strategies that enhanced institutional engagement, increased analyst coverage, and improved overall market visibility.​My focus has always been on identifying real opportunities, evaluating their potential, and structuring transactions that create long-term value.
I’m excited to bring that experience to identifying and evaluating strong prospects for a Qualifying Transaction.
Ken Matziorinis
CEO & Director
​As a management consultant, I’ve spent years helping clients evaluate business opportunities by drafting strategic plans and valuing planned acquisitions of business assets. My experience includes assessing asset value for loan approvals and managing repossessions from delinquent borrowers—work that has sharpened my ability to analyze risk and identify value. I have also served on the board of the National Bank of Greece (Canada), NBG(C), where I reviewed large credit offers and loan approvals brought forward by the bank’s credit committee.
This role has given me direct insight into corporate financing, deal structuring, and the financial rigor required to support high-stakes investments. I am bringing this experience to Thermopylae Capital Inc. with the goal of helping the team identify a strong Qualifying Transaction and ensure it meets the financial and strategic standards expected by the TSX Venture Exchange and our shareholders.
This background allows me to bring both strategic insight and hands-on financial oversight to Thermopylae Capital Inc. My understanding of regulatory compliance, financial reporting, and deal structuring will help ensure that the company remains in good standing as a CPC and is well-positioned to successfully complete a Qualifying Transaction that adds long-term value for shareholders.
Veronique Laberge
CFO & Director
I am a Chartered Professional Accountant and licensed auditor with more than 17 years of experience in professional practice. Over the course of my career, I have specialized in, general accounting, and advisory work for both public and private companies.
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These experiences have provided me with a strong foundation in financial reporting, regulatory compliance, and corporate governance, while also enabling me to support businesses through periods of transition and growth. In my current role as Chief Financial Officer and director of the Corporation, I bring this expertise to the management of the Corporation and the completion of the Qualifying Transaction.
Vasilios (Bill) Mavridis
Director
I have worked as a financial advisor, in investor relations, as a corporate executive, and in business development. My professional background has allowed me to travel extensively, evaluate early-stage and growth-oriented projects, and conduct on-the-ground due diligence across a range of sectors. Notably, I have successfully led corporate acquisitions and secured financing to support business expansion and strategic initiatives.
​These experiences have equipped me with the skills to identify and assess high-potential opportunities, structure complex transactions, and navigate the regulatory and financial challenges that often accompany them. As part of our team, I’m confident that this background positions me well to contribute meaningfully toward identifying, negotiating, and completing a successful Qualifying Transaction.
Edward Ierfino
Director
I’ve spent over 15 years working in capital markets, building experience as a dealmaker and advisor for public companies. I offer guidance to businesses in various industries, like mining and health and wellness, helping with financing, investor relations, and growth plans.
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I’ve served on several TSX Venture Exchange (TSXV) boards, where I’ve helped launch and list a few Capital Pool Companies, supporting early-stage ventures in reaching the market.
In June 2021, I joined the board of Bold Capital Enterprises Inc., contributing to its Reverse Take-Over (RTO) of Stardust Solar Energy Inc., completed in September 2024.
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I’m a strategic advisor, founder, and board member at Metabolica Health Inc., a biotech startup I co-founded in October 2023. We’re working on new approaches to diabetes treatment, an area with growing potential.
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With experience spotting opportunities and guiding companies through transitions, I continue to contribute to Canada’s small-cap and growth-stage investment scene.
What is a CPC
The Capital Pool Company (CPC)
A Capital Pool Company (CPC) is a unique Canadian vehicle designed to help private companies go public on the TSX Venture Exchange (TSXV) without undergoing a traditional initial public offering (IPO). The CPC program offers a streamlined, cost-effective, and flexible pathway to access public capital markets.
How It Works:
A CPC is a publicly listed shell company with no commercial operations or assets other than cash. It is formed by experienced directors and officers who raise initial capital through an IPO. The sole purpose of a CPC is to identify and acquire a promising private operating business, known as a Qualifying Transaction (QT).
The Two-Step Process:
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Formation and IPO: The CPC is incorporated and goes public, raising funds through an IPO. At this stage, the company has no commercial operations.
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Qualifying Transaction: The CPC uses the raised capital to identify and acquire a private operating company. Upon completion of the QT, the combined entity becomes a publicly traded company on the TSXV.
Benefits of the CPC Program:
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Efficiency: Provides a faster and more cost-effective route to public markets compared to traditional IPOs.
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Expertise: Leverages the experience of seasoned directors to guide the process.
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Flexibility: Offers greater control over the timing and structure of going public.
Since its inception, the CPC program has facilitated over 2,800 companies in going public, raising more than $83 billion in equity. It remains the most common method for companies to list on the TSX Venture Exchange.
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Get in Touch
Mailing Address:
Thermopylae Capital Inc.
2020-22 Adelaide Street W.
Adelaide Center - East Tower
Toronto, Ontario, Canada, M5H 4E3
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Registered Address:
​600 - 1090 West Georgia Street
Vancouver, BC V6E 3V7
Investor Relations
Bill Mavridis
514-813-9200