RE:RE:RE:Insiders .....frostback, Gensource has a policy in place that would be great to see implemented by other juniors, and that is that every director must hold X amount of shares. I would have to look back but I think it was $100K in Gsp securities.
I also recall this year that insiders sold shares at .27 cents into the market during the run up, and rolled that back into exersizing 1,000,000 options at .13 cents
"The Company announced that on June 13, 2022, Michael Ferguson (CEO) exercised, for cash, 1,000,000 stock options at C$0.13 per common share, Deborah Morsky (PDMR) exercised for cash, 1,000,000 Options at C$0.13 per Common Share and Robert Theoret (PDMR) exercised, for cash, 807,000 Options at C$0.13 per Common Share in return for the issue of 1,000,000, 1,000,000 and 807,000 new Common Shares to Michael Ferguson, Deborah Morsky and Robert Theoret, respectively. A non-PDMR exercised 500,000 Options in return for 500,000 Common Shares at a price of C$0.13 on June 13, 2022."
Very interesting corporate strategy to sell shares into the open market to exersize options putting that cash back into the treasury to pay expenses, while issuing new options to those insiders.
" ...................proceeds from the exercise of options of $536,910"
Possibly why 1,000,000 - .08 cent options due to expire on November 13 were extended
18. Subsequent events i) In accordance with TSX-V, Board policy and AIM/MAR regulations in respect of the publication of scheduled material announcements, with reference to Gensource’s September 30, 2022, financial statement disclosures, a securities trading blackout is in place until 2 days following the filing on SEDAR of the September 30, 2022 financial documents. Accordingly, the expiration date of the 1,000,000 options that were due to expire on November 13, 2022, will be extended as regulated by the TSX-V and Company Stock Option Policy.
On an unrelated note, I found this $280 million Debt Financing update interesting:
As of this writing, the binding conditional commitment letter from KfW-Ipex Bank and Socit Gnrale has formally expired. Both banks, however, have indicated their commitment to the project and stand ready to follow through with the debt financing, once the full equity solution is in place. The Company maintains communications with both banks on a consistent basis