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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 6.99 points to 799.35 Friday, ending the week up 2.87 points. Ron Ho's first capital pool shell, the halted Spada Gold Ltd. (SPL), plans to acquire three gold exploration properties in Ivory Coast, West Africa, for its qualifying transaction. The properties are held by a company of which Mr. Ho is the vice-president of finance: Sandstorm Gold Ltd. (SSL: $5.77). The shell, which has 8,001,001 shares issued, will issue 3.8 million shares to one of the underlying licence holders, Awale Holdings Ltd., and one million shares to another licence holder, Newoka Resources SARL. Before the QT can close, the shell must also sell a $3-million private placement of 12 million shares at 25 cents.

The resulting issuer must pay Sandstorm $400,000 a year, in cash or shares at the option of the resulting issuer, until commercial production begins on the properties. The main property is called Bondoukou, and the two others are called Abengourou and Odienne. Upon the delineation of resources on the properties, the resulting issuer must pay Awale up to $3.5-million (U.S.), depending on the size of the resources. Upon receiving a mining licence for Bondoukou, the resulting issuer must pay Newoka $800,000 (U.S.).

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