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 closed up 8.22 points to 947.43 Friday, ending the week up 39.43 points. Pat DiCapo and David D'Onofrio's fifth capital pool shell, POCML 5 Inc. (PCML: halted), has released the details of its qualifying transaction, which it previously described only as a South American mining deal. The shell has disclosed that its target is Collective Mining Inc., a Colombian gold junior. The acquisition terms are still not available, except the shell will roll back 1 for 4, leaving it with 2,535,000 shares issued.

Collective Mining owns two properties. Geophysical and lidar surveys have helped identify drill targets at the main property, San Antonio, which covers 1,664 hectares. The company aims to test those drill targets this year. The other property, Guayabales, covers 413 hectares, with an additional 2,012 hectares under application. This property is in the early prospecting stage. To raise money for exploration, primarily at San Antonio, the shell plans to sell $10-million to $15-million worth of subscription receipts at $1. Officers, shareholders and other insiders of Mr. DiCapo and Mr. D'Onofrio's PowerOne Capital Group intend to subscribe for up to $6-million in the financing.

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