RE:SARGENT $ 5.3 investment in PNN - wants CONTROL1 error ... Sargent can the warrants are exchangeable for shares within 1 year
for $.10 .... not $.06 as you mentioned... which you correctly said will yield $3.33M.
choices999 wrote: Hello Everyone:
The billionaire Sargent will be our sole financier in this venture and it will be sufficient to do the drilling in Albania, without the warrants expiring in August 2017\
Sargent agreed to a $ 2 million credit line for equivalents units at 6 cents that includes a warrant so breakdown is:
33,333,333 shares at 6 cents
33,333,333 warrants to purchase shares at 6 cents within one (1) year from date of issuance
The initial $ 2 million will get us off the ground to define drilling and I believe be sufficient for 1st holee. This will spark a rally on the news and once we pass 10 cents a share, then Sargent walks in with warrants and gives another $ 3.3 million sufficient for hole 2 and acquisitions.
Given that funds are intact and it is SARGENT that is taking most of the risk, I suspect that if I were in his shoes, I want the August 2017 warrants to expire worthless so that I can get control. Action starts in September 2017.
The purpose of control is to ensure long term 30 year oil deal for his refineries.
We need to think with a long term vision and, not from a traders point of view. There is a reason why Sargent, a billionaire, came to us.
My personal opinion,