Stockwatch Street Wires
- Montego CEO Cegielski sues over salary, legal fees
Montego Resources Inc.'s CEO, Adam Cegielski, has sued the company over unpaid salary and for advances that he made to cover legal fees. The suit comes amidst a larger legal battle between the company and former CFO Anthony Jackson.
- Shell Summary for June 18, 2019
Sokhie Puar's capital pool shell, ASB Capital, has closed its QT and launched Else Nutrition. The shell raised $7.5-million at 25 cents to finance Else Nutrition's development of vegan infant formula.
- Cannabis Summary for June 18, 2019
Trulieve Cannabis closes a $70-million (U.S.) offering of 9.75 per cent senior notes with 1.47 million share warrants. Delta 9 Cannabis arranges its convertible debenture offering for between $10-million and $14-million.
- Energy Summary for June 18, 2019
Ottawa approves Trans Mountain and vows to start construction this year. Cenovus Energy increases its offer to buy back debt. Athabasca Oil basks in analyst attention, and Delphi Energy wins some breathing room as it wrestles with debt.
- Diamond & Specialty Minerals Summary for June 18, 2019
Star Diamond and Rio Tinto have completed their first big hole into the Star pipe in Saskatchewan. Cypress Development says that its prefeasibility study of Clayton Valley in Nevada is taking longer than planned. Canada Rare Earth is turning debt into stock.
- Gold Summary for June 18, 2019
K92 Mining has new assays from deep holes drilled at Blue Lake in Papua New Guinea. The mineralized zone was big, but the grades small. Ethos Gold is drilling for gold on Iron Point, a Victory Metals vanadium project in Nevada.
- Veritas ex Alexander denies wrongdoing in loan suit
Veritas Pharma Inc.'s former CFO, David Alexander, claims that he attempted to undo a disputed $1-million loan to Liht Cannabis Corp. in the days after the loan's completion. Mr. Alexander is responding to a lawsuit he faces over the transaction.
- Regal Resources shareholder seeks court-ordered AGM
Regal Resources Inc., a long-suspended CSE listing, is facing a court case from a shareholder who complains that the company has not held an AGM or filed financials since 2015. He is seeking court orders for both.
- Shell Summary for June 17, 2019
Roger Daher's first shell, Skyscape Capital, plans to launch a Mexican "dollar store" operator called PesoRama Inc. Previously, PesoRama was the QT target of Katharine De Witt's capital pool shell, Magnitude Mining. Now, PesoRama dreams of raising up to $25-million at $1.50.
- Cannabis Summary for June 17, 2019
iAnthus cancels 60 per cent of its stock options that had been reissued with a too-low exercise price. It will reissue the cancelled options at a higher exercise price. WeedMD plants 20,000 plants at its Stathroy, Ont., property.
- Energy Summary for June 17, 2019
The oil patch awaits tomorrow's decision on the fate of Trans Mountain. Seymour Schulich buys a chunk of MEG Energy. Tourmaline Oil plans a share buyback, and Frontera Energy cheers its inclusion in the S&P/TSX Composite Index.
- Diamond & Specialty Minerals Summary for June 17, 2019
Defense Metals has raised $1.09-million for further work on its Wicheeda rare earth project in B.C. Equitorial Exploration is seeking cash, hopefully some of it for exploration at Cat Lake and its other lithium prospects. Ucore Rare Metals is fond of Donald Trump.
- Gold Summary for June 17, 2019
Osisko Mining has new high-grade assays form Lynx at Windfall Lake, in Quebec. Dundee Precious Metals has placed its Bulgarian gold mine into commercial production and given it a new name. Avesoro Resource has Youga running again.
- Canfor answers Robinson's wrongful dismissal suit
Canfor Pulp Products Inc. has asked that the courts throw out a wrongful dismissal lawsuit that its former president, Brett Robinson, filed. The company says that it is paying him 18 months of severance.
- Pivot lawsuit "baseless and malicious," defendants say
Pivot Pharmaceuticals Inc.'s lawsuit against two California men is an attempt at intimidation, the men claim. They say that Pivot only brought the lawsuit after they pursued the company over their employment agreements.
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