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Shell Summary for Nov. 21, 2019

2019-11-21 21:45 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 4.89 points to 529.03 Thursday. Sean Mager and John Williamson's first capital pool shell, Cortus Metals Inc. (CRTS: halted), has announced a potential qualifying transaction, and as expected, it is a mining deal. The shell plans to acquire two Nevada properties from Intermont Resources LLC. It will pay $169,400, issue one million shares and grant a 2-per-cent NSR (net smelter returns) royalty to Intermont.

The properties are called Grayson and Powerline. They cover a combined 15,189 acres in northwestern Nevada. Since 2015, Intermont has conducted a geophysical survey, sampling and drilling at the properties. It found gold, silver, mercury and arsenic at Grayson. At Powerline, it found gold, silver, selenium and arsenic.

Intermont's majority owner is Clay Newton, a geologist living in Nevada. In 2017, he sold a Nevada gold property to Fremont Gold Ltd. (FRE: $0.04). He has since been Fremont's vice-president of exploration.

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