Old news? Thu Apr 17, 2014
Stikine Issues Shares to Settle Debts
Vancouver, British Columbia: Stikine Energy Corp. (TSX.V: SKY) (the "Company") announces that it has issued 2,065,517 common shares to arm's length creditors to satisfy certain accounts totalling $103,276. The shares issued are subject to a hold period expiring on August 17, 2014.
So, they issued just over 2 million shares at 0.05 to settle debts.
Why would anyone accept shares at 5 cents for a stock that has traded between 2-3.5 cents for most of this year, when they could have issued 3 million at 3.5 cents to cover the debts?
I'm not complaining about the lower dilution, but... is something else going on here?
Should I be buying now?