00:49:39 EDT Tue 23 Oct 2018
Enter Symbol
or Name

Login ID:
Shell Summary
Symbol C : *MKTSHEL
Recent Sedar Documents

Shell Summary for Jan. 11, 2018

2018-01-11 21:26 ET - Market Summary

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 dropped 21.33 points to 889.51 Thursday. Richard Buzbuzian's first capital pool shell, the halted Oriana Resources Corp. (OUP), has provided details on the financing plans of its qualifying transaction target, Hut 8 Mining Corp. The target, which is a cryptocurrency mining promotion and not a metal mining promotion, plans to sell a $70-million private placement at $5. Last month, Hut 8 sold a $38-million private placement at $2.50. It received $25.42-million of the proceeds in cash and the remaining $12.57-million in bitcoins. Since closing that financing, the value of a bitcoin has slipped to $13,130 (U.S.) from $16,467 (U.S.).

Hut 8 has used part of the proceeds of the first private placement to acquire seven data centres. It will use the rest of the proceeds to buy 15 more. Then, the resulting issuer will use the proceeds of the second private placement to buy another 35 data centres, bringing the total to 57. At all of these data centres, the resulting issuer will conduct cryptocurrency mining, which is the process of earning cryptocurrencies (for instance bitcoin) in exchange for computing capacity. That is, as the cryptocurrency miner offers its hardware and software capacity to blockchain operators on-line, it earns cryptocurrencies in exchange.

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

© 2018 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.