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Shell Summary for May 21, 2020

2020-05-21 20:40 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 2.12 points to close at 531.81 Thursday. Marc Sontrop's third capital pool shell, Aim3 Ventures Inc. (AIMC: halted), has submitted a filing statement for its qualifying transaction and has closed the QT. It acquired SilverStream SEZC, a mining royalty and streaming company. The shell rolled back 1 for 13.3125, leaving it with 800,000 shares issued, then it issued 26,689,392 shares to SilverStream's shareholders. On Monday, the resulting issuer will begin trading as Vox Royalty Corp. (VOX).

SilverStream has 36 mining royalty and streaming deals in place. Many of those are for exploration-stage properties in Australia. SilverStream arranged some of those deals with mining project owner-operators directly. For instance, it has a streaming deal with Titan Minerals Ltd., an Australian company that is seeking gold and copper in South America. Under their deal, SilverStream may buy 10 per cent of all future gold production at Titan's Torrecillas exploration-stage property in Peru, at a fixed and discounted price of $400 (U.S.) an ounce. SilverStream paid $3-million (U.S.) to arrange that streaming deal. Unfortunately for it, Titan's focus is not on Peru but on Ecuador, so it is unclear when, if ever, Torrecillas will begin production. SilverStream holds royalties on two other Peruvian exploration properties owned by Titan. It paid $1-million (U.S.) in total for those two royalties. Titan trades on the Australian Securities Exchange and last closed at nine Australian cents.

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