Prairie Provident Resources Inc T.PPR

Recapitalization

[filefish]

https://stockhouse.com/news/press-releases/2023/03/29/prairie-provident-resources-announces-updated-investor-presentation-for

Yikes, 910mil shares outstanding, proforma, with a valuation of .10/sh!
Havent had time to read details but sure looks like a desparate move to save the Company from BK.
Guess Prudential would rather be a bagholder than write off their investment completely.

[pennydredful]

Biggest  asset   are   tax   pools   and with  bankruptcy   those   would   die I believe . 

[filefish]

yes, agreed

[Roscoe747]

Shyba is backing this 'recapitalisation'. I think it was his plan all along because this clinker was on life support ever since it bought Lone Pine(?) I flipped this a few times last year but it was never a keeper. When the debt wasnt rolled over before Dec 31 and Berthelet disappeared, PPR was going to the Train Station. Holders are hanging on to a three alsrm fire in a one-fire truck

[Roscoe747]

It may be worth going for the ride with Shyba if he gets rid of the paycheque miners, rolls the stock back 20/1 to 45 mm shares or so and finds some oil. These days its worth rescuing a run down producer compared to starting from scratch with a public newco. Either that or try to get out.