Post by
jdbutts on Jun 26, 2024 2:54am
More Dilution Coming!
From the Press Release.
"The Company’s shareholders also approved the issuance of up to 27,500,000 Common Shares, which is in excess of 25% of the issued and outstanding Common Shares of the Company (as at June 12, 2023), issuable upon the retraction of the Convertible Debentures."
I hate to say "I told you so"; but looks like significant dilution coming. Oh well, at least it will clear up the balance sheet a bit, as Debentures get "retracted"/turned into equity.
Does anyone know the value (principal and accrued interest) of the Debentures? Rough math suggests Holders about to get 25% of USAS for this amount, if all converted.
Comment by
jdbutts on Jun 26, 2024 3:21pm
I guess the press release answer's A2Bman's question. No NCIB, as they are clearly sellers; not buyers!