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by Stockwatch Business Reporter
The TSX Venture Exchange closed down 1.27 points to 946.83 Friday. Ben Cubitt's 9 Capital Corp. (NCPL) has submitted a filing statement for its qualifying transaction and subsequently closed the QT. It rolled back 1 for 1.7, leaving it with 7,012,059 shares issued, then it issued 29,968,814 shares to the owners of its acquisition target, Churchill Diamond Corp.
Churchill was formed in 2014 and has since been trying to go public. As its name indicates, it was originally a diamond promotion. Its most recent going-public attempt (before 9 Capital) was in 2019, when it arranged a deal with the NEX-listed Western Troy Capital Resources Inc. (WRY: $0.16). The deal fell through in May, 2020, after Churchill failed to raise $2-million at 25 cents. At the time, Churchill was highlighting its Pelly Bay diamond property in Nunavut and its White River diamond property in Ontario. A previous operator spent $20-million at Pelly Bay in the 2000s, but not much came of the effort in that expensive-to-explore area.
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