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Shell Summary for Sept. 4, 2019

2019-09-04 20:28 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange added a fraction to close at 592.93 Wednesday. Two shells have arranged mining deals for their respective qualifying transactions. First, John Travaglini's first capital pool shell, Platform Eight Capital Corp. (PEC: halted), plans to acquire a Quebec gold explorer called Blue Thunder Mining Corp. For the second mining QT, January Vandale's first capital pool shell, Fusion Gold Ltd. (FML: halted), plans to acquire an Eastern Canadian cobalt explorer called Battery Mineral Resources Ltd.

Mr. Travaglini's Platform Eight Capital, which has 9,604,068 shares issued, will issue 35,483,021 shares to Blue Thunder's shareholders. Blue Thunder owns three gold properties in Quebec, specifically in the James Bay area. The three properties are called Muus, Muus East and Nisk. They cover a combined 47,422 hectares. Blue Thunder plans to raise money in connection with its going public, but the financing terms are not yet available. According to documents filed with the B.C. Securities Commission, Blue Thunder raised $224,958 at $3 in December, 2018. It then raised $276,500 at $3.50 in July, 2019. Blue Thunder's shareholders will receive 26.8476 Platform Eight shares in exchange for every Blue Thunder share held, so if there are no splits or rollbacks, the above-mentioned financing subscribers' adjusted cost will be about 11 or 13 cents a share.

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