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Shell Summary for May 19, 2020

2020-05-19 20:39 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange climbed 18.86 points to 527.85 Tuesday. Kevin Baker's first capital pool shell, Tailwind Capital Corp. (TW: halted), plans to acquire a Chilean copper-gold-silver explorer called Kairos Metals Corp. for the shell's qualifying transaction. The shell will roll back 1 for 1.5, leaving it with 5,333,333 shares issued, then issue 25,266,704 shares to its target's shareholders.

Kairos Metals was formed in February, 2018, as a spinoff from Al Kroontje's Lithium Chile Inc. (LITH: $0.15). This public company owns 17 lithium properties in Chile. It created Kairos to hold two non-lithium properties, Salvadora and Nancagua, which cover a combined 10,400 hectares. Salvadora is a copper-gold target, while Nancagua is a gold-silver target. Lithium Chile conducted sampling programs at both of those properties, as well as 2,725 metres of drilling at Salvadora, between 2014 and 2017. That was before it decided to focus on lithium. At the time, the company was called Kairos Capital Corp.

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