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by Stockwatch Business Reporter

The TSX Venture Exchange lost 1.10 points to 691.46 Thursday. There are three new qualifying transactions to discuss. Two of them are straightforward: a Mexican mining deal and a Chinese oil and gas services deal. The third is a fintech deal.

For the first QT, Arturo Bonillas's first capital pool shell, Magna Gold Corp. (MGR: halted), plans to acquire the 345-hectare Mercedes property in Sonora, Mexico, from a grandly named Sonora resident, Beatriz Delia Yepiz Fong. The shell, which has 27,075,000 shares issued, will issue 2,442,105 shares and pay $1.34-million (U.S.) to Ms. Yepiz Fong over four years. As of June 30, 2018, the shell had $2.17-million cash. Previous explorers at Mercedes performed drilling in 2008 and sampling in 2010. Samples returned gold, silver, copper and lead.

On closing of the QT, all three shell directors will remain on the board. Mr. Bonillas will continue as the chief executive officer. He is an engineer in Sonora and was the president of Timmins Gold Corp. from 2004 to 2017. Under his watch, Timmins brought its Mexican gold project to production in 2010. The stock peaked at $3.48 in 2012. He left Timmins Gold last year, when the company remade itself into Alio Gold Inc. (ALO: $1.09). In August, 2018, Mr. Bonillas listed Magna Gold with a $200,000 initial public offering at 10 cents.

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