Stockwatch Street Wires
- Shell Summary for Feb. 25, 2020
Bob Hans and Robert Quinn's first shell, Hanstone Capital, arranges a B.C. mining QT. It is raising $1.5-million at 25 cents (flow through) and 20 cents (non-FT). David Antony's first shell, Rider Investment, arranges an Ontario mining QT. It is raising $700,000 at 10 cents.
- SEC defendant Starkweather pleads guilty
SEC defendant Michael Starkweather has pleaded guilty to a securities fraud charge in New York. Prosecutors claimed that he improperly touted an OTC Markets company as having a Toronto-developed smart phone.
- Cannabis Summary for Feb. 25, 2020
Valens Groworks earns $4.4-million on revenue of $30.6-million in fiscal Q4, up from earnings of $5.8-million on revenue of $16.5-million in Q3. Green Growth falls sharply after losing $35.9-million (U.S.) in Q2 and announcing a stalking horse deal to sell its CBD business.
- Energy Summary for Feb. 25, 2020
An Alberta court deems Ottawa's carbon tax unconstitutional. Coastal GasLink faces fresh delays. Husky Energy gives itself room to raise extra cash, while Africa Energy finds a long-awaited joint venturer and Jadestone Energy looks to leave the TSX-V.
- Gold Summary for Feb. 25, 2020
New Gold has raised $300-million by selling a 46-per-cent cash flow interest in its New Afton mine in B.C. Galway Metals has hit encouraging widths of high-grade gold in the gap between two zones at its Clarence Stream gold project in N.B.
- Diamond & Specialty Minerals Summary for Feb. 25, 2020
Lucara Diamond had a solid year mining diamonds at Karowe, in Botswana. It is also pleased with its Clara sales platform. Pacific Rim Cobalt will become Bolt Metals Wednesday. Scandium International Mining touts its alloy work at Nyngan.
- Shell Summary for Feb. 24, 2020
Negar Adam's capital pool shell, Jinhua Capital, plans to acquire Santa Marta Life Sciences, an aspiring cannabis grower and cannabis oil extractor in Colombia. Before the QT can close, the shell and its target must raise a combined $4.2-million at 22 cents.
- Cannabis Summary for Feb. 24, 2020
Cronos Group falls after delaying the release of its fiscal 2019 results, which had been scheduled for Feb. 27. Cronos did not give a reason for the delay. Mota Ventures appoints First Class CBD's co-founder, Ryan Hoggan, as CEO. Joel Shacker will continue as president.
- Energy Summary for Feb. 24, 2020
Teck Resources kills its $20-billion Frontier oil sands project, telling Canada to get its policy act together or risk losing future investment. Tourmaline Oil plans to buy Chinook Energy. Painted Pony eyes Tourmaline's drilling plans in the Montney.
- Gold Summary for Feb. 24, 2020
Gold Terra Resource has new assays from Sam Otto South at its Yellowknife City gold project in the N.W.T. Japan Gold as acquired six new prospects in Japan and has agreed to have Barrick Gold help explore them, as well as most of the company's other Japanese projects.
- Diamond & Specialty Minerals Summary for Feb. 24, 2020
Globex Mining Enterprises is dusting off one old diamond prospect as it acquires a second. Gratomic inched ahead with its Namibian graphite project. Standard lithium has raised more cash for its Lanxess lithium project in Arkansas.
- SEC halts Toronto's Eastgate over COVID-19 claims
The SEC has suspended Eastgate Biotech Corp., a subpenny Toronto listing that claimed to have the rights to a drug targeting the COVID-19 virus. The regulator cites concerns over the adequacy of Eastgate's disclosure.
- Shell Summary for Feb. 21, 2020
Allan Hartley's shell graduate, Bay Talent, plans to acquire David Keys's NEX shell, RSI International, which has no operations but does have money. The IPO investors of Mark Orsmond's third capital pool shell, Danacore Industries, are doing well on their investment so far.
- Bristol-Myers asks judge to dismiss Magid lawsuit
Bristol-Myers Squibb Company says that a lawsuit filed by the estate of former Vancouver promoter Sameh Magid came too late, and should be dismissed. The underlying gambling problems should have been known in 2015, nearly four years before the lawsuit.
- Energy Summary for Feb. 21, 2020
Tear down these rail blockades, demands the Prime Minister, as anti-pipeline protests enter their third week. Enerplus slips on a surprise quarterly loss. Kelt Exploration hypes its reserves and Gear Energy its financials, both with limited success.
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