Post by
ark88 on Jan 08, 2024 11:10am
Warrant accerlation?
The hold on the shares of the september financing are lifted this week. I would expect to see a NR on the warrant acceleration soon. If these $0.12 warrants are fully exercised, that would put $3.5 million into the treasury which would fully fund the completion of the farm-in agreement.
The important takeaway here is the Company has the means and the method in place to raise funds to complete the first project. After which, the growth of the Canadian business will become self-sustaining.
I guess the question then becomes, when will the mush speculated MENA project be announced?
Do they announce it then announce the warrant acceleration or after?
Comment by
ark88 on Jan 08, 2024 12:43pm
Well, if it was up to me, I'd drop the MENA news soon. The cost to exercise these warrants are significantly different/higher than the 5 cent paper. If the holders sold at $0.20, they'd have to sell 17.5 million shares, which would be more than 50% of the paper. I'd certainly would not be happy about that if I was holding the warrants.