Ooops "BaggedBailingBunny" is promoting toxic material againFirst it was UBS, and then it was SELL Spectral as "RetailRube"
T.GEN just raised at a dime...here's how they did it;
Financial hardship exemption
As the aggregate number of common shares issuable pursuant to the offering exceeds 25 per cent of the currently issued and outstanding common shares of the company, the offering may result in a new control person of the company and the discount on pricing is above the allowable limits, GeneNews would ordinarily be required to obtain shareholder approval pursuant to the applicable policies of the TSX, which are Section 607(g)(i) and Section 604(1)(i) and Section 607(e), respectively, of the TSX company manual. However, the company has applied to the TSX, pursuant to the provisions of Section 604(e) of the manual, for a financial hardship exemption from the requirement to obtain shareholder approval, on the basis that the company is in serious financial difficulty and the offering is designed to improve the company's financial situation. The application was made upon the recommendation of the board, free from any interest in the transaction and unrelated to the parties involved in the transaction, and was based on their determination that the transaction is reasonable for GeneNews in the circumstances.