RE:RE:RE:MWX Announces Rights Offering & Proposed Share Consolidation" MWX Announces Rights Offering & Proposed Share Consolidation " MEANS you have to give MWX $0.015 per share you own to retain your percentage of ownership of the issued and outstanding common shares.
Feels like gouging to me.
AT.
HOWEVER. if you don't subscribe, someone will have the chance to take HALF of your ownership in MWX for $0.015 per share.
" ...If you exercise your Basic Subscription Privilege in full, you will also be entitled to subscribe pro rata for additional Common Shares not otherwise purchased, if any, pursuant to the Basic Subscription Privilege, at the Subscription Price... "
Correct me if I have misinterpreted the quoted phrase.
AT.
Today, buying one share @ $0.06 gets you one share plus one right. If you subscribe, then after consolidation you end up with one share @ $0.075.
Through CIBC, someone bought over one million shares @ $0.06 @ 14:40:44.
That seems to be a vote of confidence.
AT.