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by Stockwatch Business Reporter
The TSX Venture Exchange gained 6.27 points to 802.75 Monday. Gary MacDonald's capital pool shell, Aintree Resources Inc., has completed its qualifying transaction and is now a Nevada gold promotion, listed under the same name, Aintree Resources Inc. (AIN: $0.25). Aintree, the shell graduate, has not yet traded.
For its QT, the shell acquired the Tonopah property from Midway Gold U.S. Inc. The shell, which had 8,754,167 issued shares, issued another 1.5 million shares and paid a total of $75,000 (U.S.) to Midway and the property's royalty holders. Midway last drilled Tonopah in 2011. It filed for bankruptcy in the United States in 2015. Then in March, 2017, it received court approval to sell Tonopah to Aintree, free of liens.
In connection with the QT, Aintree sold a $1.05-million private placement at 25 cents. It will use the proceeds for exploration. There were 101 placees, including Mr. MacDonald, who bought 100,000 units. Fellow Aintree director Chris Herald, a geologist, bought 200,000 units. Mr. Herald is the president of Solitario Zinc Corp. (SLR: $0.73), which has zinc projects in Peru and Alaska. Also among the placees was Stewart Vorberg, who bought 1,000 units. Mr. Vorberg co-founded Jordan Capital Markets Inc., which is now a part of Mackie Research Capital Corp. Mr. Vorberg is now with Mackie as a senior broker. His son, Adam Vorberg, who is one of his assistants at Mackie, also bought 1,000 units of Aintree.
Presumably, there is a reason for the Vorbergs' unsually small investment, but why not just buy none?
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