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Shell Summary for Jan. 16, 2020

2020-01-16 21:02 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 6.10 points to 583.11 Thursday. Mohammad (Mo) Fazil's second capital pool shell, Elephant Hill Capital Inc. (EH: halted), plans to acquire two companies for its qualifying transaction: Artos Pharma Inc. and Tassili Life Sciences Corp. The shell, which has seven million shares issued, will issue 20 million shares to Artos's shareholders and between 13.75 million and 22.5 million shares to Tassili's shareholders.

Artos is a Vancouver company that is working on a treatment for advanced sarcoma (a cancer in the bone, cartilage or other types of connective tissue). Its lead drug candidate is called ART-2020. Artos has so far completed at least two phase II clinical trials for ART-2020 in Europe. The latest of those trials included 23 patients. Artos boasts that its drug candidate is doing well so far, in terms of improving survival rates as well as preventing the cancer's progression or metastasis in a patient.

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