GREY:BLPFF - Post by User
Comment by
PruneFaceon May 01, 2018 4:39pm
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Post# 27966655
RE:this is Big news ....strange no reaction by the market
RE:this is Big news ....strange no reaction by the marketThe other big news is that the previously announced $3 million financing led by Cannacord and Gravitas of up to 10 million units at $0.50 (one share and one full warrant @0.50 good for 2 years) open to all interested investors has failed to materialize.
The financing has been revised to $1 million, up to 5 million units @ $0.20 with a full warrant @ $0.50 good for 2 years, is non-brokered and for accredited investors only.
The signs that there was a problem were evident. The length of time is was taking to close was longer than it should have been and the SP had drifted well below the original price. Either the two leads on the original placement were inept or the company's products/potentional can't generate sufficient interest to entice possible investors.
One positive is that the company won't have to pay the exorbinant fees to the leaches. Other than that it appears to be not good IMO.