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 fell 16.07 points to 967.30 Friday, ending the week down 9.04 points. Vancouver promoter David Sidoo is arranging a useful deal for shareholders of his now-halted capital pool shell, Caymus Resources Corp. (CJX), and his halted restructured NEX shell, Ava Resources Corp. (VAS: $0.105). He will put shareholders out of their misery. The two shells will spend their treasuries on units of Tasman Metals Ltd. (TAS: $1.19), a Scandinavian rare earth metals explorer that recently announced it would sell a $5-million private placement of 4,545,454 units at $1.10. Each Tasman unit will comprise one share and one warrant. Warrants will be exercisable at $1.50 for three years. Tasman anticipates closing the private placement in early March.

Caymus, which last traded at seven cents, will acquire 365,636 Tasman units for $402,200. It will then distribute the units to its shareholders pro rata, and then delist and dissolve. Caymus has 8,115,000 shares outstanding, so its shareholders will receive one unit of Tasman for approximately every 22 Caymus shares. Of the capital pool shell's 8,115,000 shares, it issued two million at five cents and the remaining 6,115,000 shares at 10 cents. The shell has traded between six cents and 32 cents since listing in January, 2012. Mr. Sidoo is the largest shareholder of Caymus with 1.72 million shares.

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