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by Stockwatch Business Reporter

The TSX Venture Exchange gained 17.99 points to 896.19 Monday. Wilson Jin's first capital pool shell, the halted Transcontinental Gold Corp. (TCG), plans to acquire a mining promotion called Marvel Dragon Holdings Ltd. for the shell's qualifying transaction. The shell, which has 7.08 million shares issued, will issue 22 million shares to its target's shareholders. To raise money for the resulting issuer, Transcontinental Gold plans to sell a $2-million to $2.5-million private placement. It has not yet set the terms. Its QT target, Marvel Dragon, holds an interest in three mineral claims in Fiji, including Vatukoula (gold) and Ba (polymetallic).

On closing of the QT, the resulting issuer will have four directors, all of whom are current directors of the shell. They are: shell-maker Mr. Jin, Myles Gao, Kevin Zhu and Tony Guo. Mr. Jin, a Vancouver geoscientist, was the president of a TSX-V-listed British Columbia gold explorer called Huakan International Mining Inc., which peaked at 48 cents under his leadership. Huakan was taken private by a group of its Hong Kong shareholders for 50 cents a share in 2014. These days, Mr. Jin is the president of another B.C. gold promotion, China Minerals Mining Corp. (CMV: $0.23). He listed his shell, Transcontinental Gold, only four months ago with a $300,000 initial public offering at 10 cents.

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