Imagine Lithium Inc. V.ILI

A massive dilution of shares proposed by management

[HHHAPPY]

to raise significant monies for the development of Jackpot lithium holding.
3 million dollars at .06 a share for 50 million shares. Plus 5 million dollars at .10 a warrant for another 50 million shares.
8 million dollars should allow a major attempt to prove up a significant reserve if it is there!
" Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) announces that it has arranged a non-brokered private placement of 50 million units ("Units") at a price of $0.06 per Unit for aggregate gross proceeds of $3,000,000.00 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one transferable Share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.10 per share. Proceeds raised from the Offering will be used towards exploration activities on the Company's Jackpot Lithium project and for general working capital and unallocated funds as per Tier 2 status requirements.

Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.

These offerings are subject to TSX Venture Exchange acceptance.

About Infinite Ore Corp.

Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is focused on the exploration and development of its 100% owned Jackpot lithium property located near Nipigon, Ont."

[lifegoeson]

HHHAPPY, I am a bit surprised that if the property is as good as everyone says, why would they shave current shareholders by doing a PP at $0.06. I guess one is either on the inside looking out or on the outside getting looking in. One thing is certain, there will be no shortage of paper and intense trading at some point, much of this paper will likely be sold or shorted into the market and

[HHHAPPY]

To me this is a reverse split of the outstanding shares. The hoped for positive assays  will have to be GREAT to move the price of the shares 

[woodwise]

It's not like they are going into an unknown property. What do you call great? Or do you really even know.

[woodwise]

Once they start working on the property and announce some good results, this stock will pay.

[Stockwatcher123]

The offer price for the PP just doesn't make sense to me. Also, why are there still bids as high as 0.105 when you could get 0.06 per share plus warrent. I am out of my position for now. Good luck to all longs. 

[michelville9]

Completement innocent de vendre des action a 6 cents quand elles valent 11 cents sur le marche. La direction n' a pas de genie

[HHHAPPY]

The News release details management "has arranged a non-brokered private placement of 50 million units ("Units") at a price of $0.06 per Unit for aggregate gross proceeds of $3,000,000.00 (the "Offering"). Each Unit will be  comprised of one common share ("Share") and one transferable Share purchase warrant of the Company ("Warrant"). This means

[Stockwatcher123]

You are right. I emailed the company about the pp and no response. It is despicable for the management to do something like this to the current shareholders. Whoever participated in the pp could short sell the number of shares that he purchased through pp, pocket the difference and keep the warrant for free. 

[Eyeguy83]

The new vtem and ground work must be extremely promising for the company to make this move. RCK is right there and will need more lithium.  Why not get it from your neighbors 

[woodwise]

Here is your chance to sell your shares and buy back in cheaper if you chose.

[woodwise]

LOL, Stockwatcher123, good thing you got out at 10 cents instead of the 13 cents it's at now. Not sure Stockwatcher is a suitable name.

[Stockwatcher123]

Haha well played. I feel like an idoit and another lesson learned.