RE:RE:RE:RE:RE:RE:The seller continues to pressure the market Issuance of shares
During the year ended December 31, 2020, the Company completed the following share transactions:
Northstar issued a total of 44,331,147 shares in connection with the RTO (Note 4) valued at $8,383,146.
Empower, prior to the Amalgamation issued a total of 2,082,500 shares at a price of $0.15 per share for
gross proceeds of $312,375 on warrant exercises.
During the year ended December 31, 2019, Empower completed the following share transactions:
Empower issued a total of 2,903,332 units at a price of $0.30 per unit for gross proceeds of $871,000. Each unit consists of one common share and one-half share purchase warrant. Each full warrant is exercisable to
acquire one share at $0.50 per share.
In connection with the private placements, Empower incurred $20,760 in cash share issuance costs, and issued 69,200 broker warrants with a fair value of $16,644.
lscfa wrote:
On December 23, 2020, pursuant to the Empower Amalgamation, the Company issued 44,331,147 Northstar Shares in exchange for 40,988,577 Empower Shares held by the former Empower Shareholders.
lscfa wrote:
As the Company anticipates being an “emerging issuer” as defined in NP 46-201 and a “Tier 2 Issuer” under the policies of the TSXV, the following automatic timed releases pursuant to the NP 46-201 Escrow Agreement and the TSXV Escrow Agreement are expected to apply to the Escrowed Securities held by its principals and certain non- principals who are subject to escrow:
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(a) 10% of the Escrowed Securities on the Listing Date;
(b) 15% of the Escrowed Securities on that date that is six months from the Listing Date;
(c) 15% of the Escrowed Securities on that date that is 12 months from the Listing Date;
(d) 15% of the Escrowed Securities on that date that is 18 months from the Listing Date;
(e) 15% of the Escrowed Securities on that date that is 24 months from the Listing Date;
(f) 15% of the Escrowed Securities on that date that is 30 months from the Listing Date; and
(g) all remaining Escrowed Securities on the date that is 36 months from the Listing Date.
trader53 wrote: Before being reorganised this Company was supposed to enter the blockchain world. Things fell apart and many shareholders including the founders were sitting on a pile of stock. House 33 raised money at a nickel and at fifteen cents. One of the founders didnot get involved with roof and my guess it is this founder who has been monetizing his position of founder shares. I spoke to Sedun and he admitted there was a huge seller but was not sure who it was. That sent the red flags up for me as there are no institutions in this stock so they could simply look at their shareholder record to determine who owns in excess of 5,000,000 free trading shares. Go back and review the trading by house you will see the patterns. I have watched every trade for months and this seller leaves a very obvious pattern of selling.