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Shell Summary for July 7, 2017

2017-07-07 20:03 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 4.61 points to 755.22 Friday, ending the week down 11.52 points. Two capital pool shells have found potential qualifying transactions in British Columbia. First, Shabir Premji's halted capital pool shell, P Squared Renewables Inc. (PSQ), plans to acquire Borealis GeoPower Inc., which has two geothermal energy projects in B.C. Second, Larry Doan's suspended capital pool shell, Flying Monkey Capital Corp. (FMK), plans to acquire Fabled Copper and Gold Corp., which has three copper properties in B.C.

Mr. Premji's P Squared, which has 11 million issued shares, will issue another 11 million shares to its target's shareholders. Borealis's two projects are called Canoe Reach and Lakelse Lake. They are located, respectively, near Valemount and near Terrace. Borealis plans to build a 15-megawatt power plant at each project, but at the moment, both projects are in the exploration stage. Borealis also hopes to build a geothermally powered commercial park at each project.

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