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I am not good at reading such information but it seems to me that the amount of cash being raised by their rights offering will only serve to keep them going for another year and does not imply some new undertaking. Perhaps it is just a way for Clayton to acquire shares at an attractive price - but glad i can participate (once i renounce my current citizenship).
It stuck me as strange that there is no mention of the Rights offering at their website. If it was not a press release how was it published? Poke around their site and see for yourself.
https://www.mgmenergy.com/about-us/
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