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by Stockwatch Business Reporter
The TSX Venture Exchange rose 17.52 points to 747.16 Tuesday. Peter Hughes's halted capital pool shell, Broome Capital Inc. (BCP), plans to acquire a Saskatchewan uranium property option for its qualifying transaction. It will roll back 1 for 3, leaving it with 3,135,541 postconsolidated shares issued, then issue one million postconsolidated shares and pay $10,000 cash to the optionor. To acquire a 100-per-cent interest in the property, which is called KLR, the resulting issuer must spend $500,000 on exploration within 18 months. Broome Capital had a working capital deficit of $167,134 on June 30, 2016. To finance its QT and raise money for its resulting issuer's exploration work, the shell is selling a $750,000 private placement of 15 million postconsolidated units at five cents.
KLR covers 2,406 hectares in Northern Saskatchewan, 60 kilometres southwest of the past-producing Key Lake uranium mine. Its optionor is Doctors Investment Group Ltd., a Bahamas-registered property holder. Doctors Investment has optioned properties to eight other public companies in the last 10 years, most recently a Quebec gold property to Golden Peak Minerals Inc. (GP: $0.345) and a Nevada lithium property to Noka Resources Inc. (NX: $0.055).
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