This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange fell 4.39 points to 599.23 Tuesday. Kenneth DeWyn's third capital pool shell, Chainode Opportunities Corp. (CXD: halted), plans to acquire a Quebec copper and gold explorer, AmAuCu Mining Corp., for the shell's qualifying transaction. The shell will roll back 1 for 12.08, leaving it with 745,033 shares issued, then issue 19,222,857 shares to its target's shareholders.

AmAuCu hopes to own base and precious metal properties in the Americas. So far, it has none. It is working to acquire CBay Minerals Inc., the owner of past-producing copper and gold properties in the Chibougamau mining camp in Northern Quebec. In connection with its going public, AmAuCu is selling a $6-million private placement at $1.45.

CBay was formed in 2011 as a subsidiary of Nuinsco Resources Ltd. (NWI: $0.01). At the time, Nuinsco already wanted to take CBay public. For about three years, Nuinsco drilled CBay's Chibougamau properties as well as properties in other countries. Nuinsco's stock traded up to a modest 29 cents in those years. In 2015, Nuinsco was ejected by the Toronto Stock Exchange, after the market value of its public float remained below $4-million for four months. It had 295.5 million shares issued, but its stock price was under 1.35 cents. In February, 2019, Nuinsco returned to the market, listing its 420.8 million already-issued shares on the Canadian Securities Exchange. It is now focusing on two properties in Ontario and one in Egypt. Its stock has so far traded almost exclusively below three cents, except on its first day, when it managed to reach eight cents.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS