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by Stockwatch Business Reporter

The TSX Venture Exchange gained a fraction to 508.25 Monday. Ray Strafehl's suspended capital pool shell, Redline Resources Inc. (RLI), has submitted a filing statement for its acquisition of Tyko Resources Inc., which owns the Tyko nickel-copper property in Ontario's Thunder Bay mining district. The acquisition will be the eight-year-old shell's qualifying transaction. Redline, which has 6.1 million issued shares, will issue 13,036,966 shares to Tyko Resources' shareholders, then change its name to Nickel One Resources Inc. Before the deal can close, Tyko Resources must complete a National Instrument 43-101-compliant technical report on the property. As well, Redline must sell an $890,000 private placement of 4,166,667 flow-through units at 12 cents and 3.9 million non-flow-through units at 10 cents. Nickel One will use $396,000 of the private placement proceeds on a phase 1 work program at the property, to be completed by May, 2016.

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