Stockwatch Street Wires
- Shell Summary for Dec. 13, 2019
Paul Andreola and Luke Montaine's capital pool shell, Ironwood Capital, arranges a QT with a Vancouver tech start-up called 1Five2 Tech Solutions. The shell must raise $1.5-million at 25 cents.
- Resource Group's Sahachaisere loses appeal
Resource Group International Inc.'s Songkram Sahachaisere, convicted for his part in a $120-million (U.S.) fraud run by Toronto's Sandy Winick, has lost his appeal. The loss comes despite prosecutors conceding that some of their evidence was improper.
- Cannabis Summary for Dec. 13, 2019
Ontario confirms that it will abandon its lottery system for dispensary licences in favour of a simple application system. The province estimates that 20 stores a month will open starting in April, 2020. Organigram receives Health Canada approval to expand capacity.
- Diamond & Specialty Minerals Summary for Dec. 13, 2019
Razore Rock Resources is looking to hunt rare earths on a True North gem prospect in Yukon. Transition Metals is creating a new energy metals company focused on nickel. Defense Metals has pleasing new assays from Wicheeda.
- Gold Summary for Dec. 13, 2019
Iamgold has revised its mine plan for Westwood in Quebec. The company is optimistic, much like it has been in the past. Gitennes Exploration has high-grade, narrow-interval gold assays from Snowbird in north-central B.C. Investors were unenthused.
- Energy Summary for Dec. 13, 2019
Valeura Energy nosedives on dispiriting test results from its Turkish gas play. Tourmaline Oil is on the prowl for acquisitions, according to an analyst. Surge Energy sets out its 2020 guidance, defends its dividend and welcomes a familiar new executive.
- Cannabis Summary for Dec. 12, 2019
The MLB becomes the first major North American sports league to remove marijuana from its list of banned substances. Cresco arranges a $50-million (U.S.) sale-and-leaseback deal for an Illinois facility. Medmen rises after cutting more jobs and discussing its plan.
- Shell Summary for Dec. 12, 2019
Chris Frostad's first shell, Victory Capital, drops its veterinary tech QT. Kevin Baker's first shell, Tailwind Capital, drops its medical device QT.
Michael Auerbach and Leland Hensch plan to list their second SPAC, Subversive Real Estate, with a $200-million (U.S.) IPO.
- Diamond & Specialty Minerals Summary for Dec. 12, 2019
Olivut Resources is edging closer toward earning its interest in Seahorse from Talmora Diamond. Voyageur Pharmaceuticals is rejigging its promotion of the Frances Creek barium project. Niobay Metals expects metallurgical results from Crevier soon.
- Gold Summary for Dec. 12, 2019
Kootenay Silver has assays from Columba in Mexico, including some from an intriguing new area that warrants more work. Royal Nickel, once a reluctant gold miner, had a good November and is on track to hit its guidance at Beta Hill and Higginsville in Western Australia.
- Energy Summary for Dec. 12, 2019
EnCana urges shareholders to vote in favour of its proposed U.S. redomiciling. TORC Oil lays out its plans for 2020 and tweaks (but keeps) its generous dividend. Advantage Oil's CEO talks gas prices, and Petrotal keeps its word and declares a dividend.
- IIROC fines Orr for altering client phone records
IIROC has fined and suspended Clinton Orr, a former employee of National Bank Financial Inc. who altered the firm's contact information for 394 clients. He made the changes before he left for another firm.
- Transcanna sues Umbrella Capital for $904,000
Transcanna Holdings Inc. has sued Toronto's Umbrella Capital Group after paying $904,000 for market-making services that it never received. It says that Umbrella was not legally able to be a market-maker.
- MGX's Patrick, Reimann ask judge to remove Lazerson
MGX Minerals Inc. directors Lyndon Patrick and Michael Reimann have asked a judge to remove the company's president, Jared Lazerson, from his job. They accuse him of self-dealing and of misusing a company credit card, among other things.
- Shell Summary for Dec. 11, 2019
Sean Mager and John Williamson's second capital pool shell, Duro Metals, closes its $300,000 IPO at 10 cents. It plans to seek a mining QT. Navin Varshney's fifth capital pool shell, Usha Resources, closes its Ontario mining QT.
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