flow threw shares & SP suppretionvolume today 290,000
If the recent [March 24/11 ] 13,040,000 private placement shares.25 less the tax breaks @ and 10,,344,828 flow-threw @ .29 less the tax break eaqualling 23,384,828 shares is keeping the price down while the buyers slowly sell off these shares ...
how long will it take for them to liquidate there investment???
and what will happen to the sp once they do ??
and throw some good news from Anglo into the equasion
source below;
Anglo Canadian Oil Corp. announced that it has closed its previously announced non-brokered private placement. The Company sold, on a private placement basis, an aggregate of 13,040,000 units at a price of
.25 per Unit and 10,344,828 common shares issued on a flow-through basis(Flow-Through Shares) at a price of
.29 per Flow-Through Share for gross proceeds of approximately $6.3 million. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant with each Warrant entitling the holder thereof to acquire one Common Share at a price of
.33 per Common Share for a period of 18 months from the date of closing the Offering. A finder's fee was paid on the Offering to PI Financial Corp., and certain other investment dealers, in cash of up to 7% of the gross proceeds raised under the Offering and options entitling the holder to acquire up to 8% of that number of securities sold by arm's length parties who assisted with the placement of the securities. There is a four month hold period on the Common Shares, Flow-Through Shares and Warrants issued pursuant to the Offering which expires on July 25, 2011. Net proceeds of the Offering will be used towards the Company's ongoing work program in its Nordegg and Bakken oil properties with the flow-through share proceeds used to incur eligible Canadian exploration expenditures that will be renounced to subscribers effective on or before December 31, 2011. Full Article
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