14:28:11 EDT Thu 22 Oct 2020
Enter Symbol
or Name

Shell Summary for Sept. 1, 2020

2020-09-01 20:35 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange added 3.60 points to close at 754.69 Tuesday. Adam Spencer's first capital pool shell, Schooner Capital Corp. (SCH: suspended), plans to acquire 1201361 B.C. Ltd. for the shell's qualifying transaction. The target owns the 420-hectare Ponderosa gold property located 16 kilometres southwest of Merritt, B.C. The shell, which has 4.75 million shares issued, will issue 7,147,408 shares to its target's shareholders.

A previous operator at Ponderosa conducted a trenching program that yielded 3.6 grams per tonne gold over seven metres and 1.92 g/t gold over 14 metres. The operator then conducted a drill program, but it failed to hit mineralization. Ponderosa's current owner, 1201361 B.C., has been performing exploration work at the property since last year. It has collected samples yielding up to 7.54 g/t gold. The company has so far identified four near-surface drill targets.

1201361 B.C. has no money for a drill program. It had $30,200 in the bank on March 31. In connection with the QT, Schooner Capital is raising up to $2-million at 10 cents. The resulting issuer will spend at least $1-million on exploration, including drilling.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2020 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.