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Shell Summary for Feb. 25, 2020

2020-02-25 20:39 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange dropped 20.53 points to 547.26 Tuesday. Gurbakhshish (Bob) Hans and Robert Quinn's first capital pool shell, Hanstone Capital Corp. (HANS: halted), has arranged a B.C. mining deal for its qualifying transaction. It is acquiring two properties, Doc and Snip North, both in the Skeena area. Hanstone, which has six million shares issued, will issue 4.7 million shares to close the QT. Its resulting issuer must pay $1.77-million in stages until July, 2025, to the unidentified owner of Doc.

Four million of the consideration shares will go to shell-maker Mr. Hans himself. Another shell director, Raymond Marks, will receive 500,000 of the shares. The remaining 200,000 shares will go to Richard Mill, the owner of Snip North. In the past year, Mr. Mill has sold two other properties in the Skeena area, one to Auramex Resource Corp. (AUX: $0.04) and the other to Tudor Gold Corp. (TUD: $0.59). Shell director Mr. Marks, 70, was the executive vice-president and a director of Tudor Gold from February, 2016, to December, 2018. He lives in Mission, B.C., and has managed rock quarries, lumber mills, logging camps and industrial storage yards.

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