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 gained a fraction to 710.79 Friday, ending the week down 4.57 points. Pat DiCapo's halted capital pool shell, POCML 3 Inc. (PWR), has filed a management information circular containing details of its qualifying transaction with Neo Lithium Corp. The target owns the Tres Quebradas lithium salar and brine project in Argentina. POCML 3 and Neo Lithium will hold separate shareholder meetings on July 12 in Toronto, to seek approval for the transaction. The shell, which has already received conditional TSX-V approval for the QT, expects to close the deal by July 14.

POCML 3 will roll back 0.91 for 1, leaving it with 6.37 million postconsolidated shares issued, then issue 27 million postconsolidated shares to Neo Lithium's shareholders. Largest among these shareholders are Waldo Perez and Gabriel Pindar. Mr. Perez, a geoscientist in Argentina, is the president and a director of Neo Lithium. He holds 4.89 million shares or 12.64 per cent of the target. On closing of the QT, he will continue as the president and a director of the resulting issuer, and will receive a monthly fee of $10,000 (U.S.) in exchange for his services. He will hold 4.99 million shares or 7.67 per cent on closing. Mr. Pindar, a mine manager in the United Kingdom, is a director of Neo Lithium, holding 4.79 million shares or 12.38 per cent. On closing, he will remain on the board and hold 4.89 million shares or 7.51 per cent of the resulting issuer.

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