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Shell Summary for Aug. 24, 2020

2020-08-24 20:48 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 6.59 points to 723.72 Monday. Bob Hans and Robert Quinn's first capital pool shell, Hanstone Capital Corp., has closed its qualifying transaction, which was the acquisition of the Doc property in British Columbia from Milestone Infrastructure Inc. Today, the resulting issuer began trading as Hanstone Gold Corp. (HANS: $0.50). It opened at $2.94 but quickly fell, closing at 50 cents on 563,700 shares.

The Doc property covers 1,700 hectares in the Skeena area. We discussed it in more detail in the Shell Summary for July 27, 2020. Its former owner, Milestone, has two shareholders: Mr. Hans (88.9 per cent) and another shell director, Raymond Marks (11.1 per cent). In connection with the QT, Mr. Hans received four million shares of Hanstone Gold, while Mr. Marks received 500,000. Along with the QT, Hanstone Capital closed a $3-million private placement of flow-through units at 25 cents and non-FT units at 18 cents. Hanstone Gold plans to drill 20 holes at Doc.

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