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Shell Summary for Feb. 5, 2020

2020-02-05 21:05 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 2.94 points to 576.36 Wednesday. Peter Bures's capital pool shell, Antler Hill Mining Ltd. (AHM: halted), has unsurprisingly arranged a mining deal for the shell's qualifying transaction. It plans to acquire Rockford Mining Ltd. The shell, which has 18,765,000 shares issued, will issue 28 million shares to Rockford's sole owner, Americas Investments & Participation Ltd.

Rockford has an option to acquire an 80-per-cent interest in the Sao Gabriel zinc-lead project in Brazil's southernmost state, Rio Grande do Sul. The property covers 13,644 hectares. Under the option agreement, Rockford must pay $20,000 (U.S.) and issue 28 million shares to the optionor, Grafite Do Brasil Mineracao Ltda. (If Rockford issues these 28 million shares soon, then they will convert into an additional 28 million Antler Hill shares on closing of the QT.) Rockford must also complete a 1,000-metre drill program at the property by April.

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