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Renegade Gold Inc V.RAGE

Alternate Symbol(s):  TGLDF

Renegade Gold Inc. is a Canada-based company, which is engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. Its principal business activity is the exploration and evaluation of mineral assets. The Company holds over 1,200 square kilometers of property in the Red Lake gold district of Ontario, including key areas adjacent to Evolution’s Red Lake Mine, Kinross’ Great Bear Project, West Lake Gold Mine’s Madsen Mine and First Mining Gold’s Springpole Project. It holds a 100% interest in the Newman Todd properties (the NT Project). Its Red Lake Gold Property is a 16,900 hectares (ha) land package strategically located between the Madsen Mine, Kinross’ Dixie Project, and Evolution Mining’s Red Lake mines. Its Confederation Belt Property covers 57,000 ha and spans 65 kilometers (km). The Sidace Project is located 28 km northeast of Red Lake, at the northern extent of the Red Lake Greenstone Belt.


TSXV:RAGE - Post by User

Post by marpincanon Aug 06, 2023 7:56pm
258 Views
Post# 35575664

Existing shareholders are getting boned!!!!

Existing shareholders are getting boned!!!!With no money in the kitty, a capital raised was required but the way it was done screwed existing shareholders with quite a large discount to recent trading a warrants to boot. They are giving someone a real nice deal here. The previously executed 10 for 1 share consolidation actually made things worse. As ussually happens after a share consolidation like thant, the stock tanked. Something tells me that the share consolidation was done on purpose to drive the share price down (always happens after a share consolidation) and now with this placement, those participating get a big chunk of the company for peanuts! Long standing shareholders get boned!! Can't figure why Starr is just sitting on the side lines - he did have millions of shares in the old Trillium which are now hundreds of thousands of shares worth a lot less. I suspect that a carrot of some sort has been sent his way. 
  Yes they needed to raise capital but doing it without the share consolidation at 9 cents pre consolidation (90 cents) should have been doable and a far better deal for existing share holders.
  Existing shareholders have been boned! Those who got the private placement picked up a large piece of the company for peanuts! They now have 5 million headed for the kitty and need to prove up something worth mining so that this company amounts to more than just a large holder of prospective moose pasture!

 
 

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