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Shell Summary for Oct. 18, 2019

2019-10-18 19:51 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 1.64 points to 542.43 Friday, but it ended the week up 1.67 points. Patrick Langlois's first capital pool shell, Angus Ventures Inc. (GUS: suspended), expects to close its qualifying transaction any day now. For its QT, the shell is acquiring the Slate Bay copper-gold-silver property near Red Lake, Ont., from Canstar Resources Inc. (ROX: $0.04) and Luxor Exploration Inc. Canstar holds a 75-per-cent interest in Slate Bay, and Luxor holds the remaining 25 per cent. Angus Ventures, which has 18.9 million shares issued, will issue 70,000 shares to Canstar. The shell will also pay $30,000 each to Canstar and Luxor.

The Slate Bay property covers 149.16 hectares. According to the shell's QT filing statement, Canstar and Luxor have held their interests in the property since 2002. They conducted exploration between 2002 and 2008, including drilling 14 holes. Over the years, Canstar has also conducted exploration at its other properties in Ontario, Newfoundland and Manitoba. Since listing in 2005, Canstar's stock has not traded above 33 cents. It rolled back 1 for 5 last year. It closed at four cents today.

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