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Shell Summary for July 27, 2020

2020-07-27 20:16 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange climbed 17.72 points to 709.11 Monday. Gurbakhshish (Bob) Hans and Robert Quinn's first capital pool shell, Hanstone Capital Corp. (HANS: halted), has filed an information circular and a technical report in connection with its qualifying transaction, which is a B.C. mining deal. For its QT, the shell is acquiring the Doc property in northwestern British Columbia from Milestone Infrastructure Inc., which is 88.9 per cent owned by Mr. Hans. Since Milestone and Hanstone are related parties, the shareholders of the shell must approve the QT. Hanstone will hold its shareholders meeting on Aug. 12. There, the shareholders will also elect the directors of the resulting issuer.

Hanstone Capital, which has six million shares issued, will issue 4.5 million shares to Milestone Infrastructure. Of those 4.5 million shares, four million will go to Mr. Hans, while the remaining 500,000 will go to Raymond Marks, who owns 11.1 per cent of Milestone. Like Mr. Hans, Mr. Marks sits on the board of the shell. Besides issuing shares, Hanstone will pay up to $150,000 to Milestone to cover property expenditures, including the purchase of field support equipment and supplies.

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