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Shell Summary for March 16, 2020

2020-03-16 20:24 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 24.66 points to 366.46 Monday. Gurbakhshish (Bob) Hans and Robert Quinn's second capital pool shell, Hansco Capital Corp. (HCO), has listed with a $300,000 initial public offering at 10 cents. Its IPO agent was Leede Jones Gable Inc. Not unusually for a shell, the stock did not trade today.

Mr. Hans, 56, is the founder and president of Hans Trucking Ltd., a sand and gravel trucking company that operates in the B.C. Lower Mainland and the Fraser Valley. His shell-making partner, Mr. Quinn, 63, lives in Houston and is a founder and retired partner of Quinn & Brooks LLP, a law firm that focuses on mining deals. Mr. Quinn has been a director of about half a dozen public mining issuers in Canada, currently none, most recently Tudor Gold Corp. (TUD: $0.45) from 2016 to 2018.

The trucker-and-lawyer duo's first capital pool shell, Hanstone Capital Corp. (HANS: halted), listed in April, 2019, with a $300,000 IPO at 10 cents. It is halted pending a potential qualifying transaction that is a B.C. mining deal. In connection with that deal, the shell is selling a $1-million private placement of flow-through units at 25 cents and a $500,000 private placement of non-flow-through units at 20 cents. We discussed this QT in more detail in the Shell Summary for Feb. 25, 2020.

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