RE: RE: Class Action based upon misrepresentationI think the former Woulfe Mining investor relations Nick Smith knows exactly what he is talking about. He has been around long enough to see how these dilution schemes work. It makes sense for Dundee Corporation and Ned Goodman to drive down the Woulfe Mining stock price then try and issue around 150,000,000 million shares of new common stock and warrants. Diluting all of the long term shareholders out of their positions in WOF stock. Effectively making the investments of smaller long term retail shareholders nearly worthless from this dilution scheme. Ned Goodman's Dundee Corporation could increase their ownership in the company to nearly 40% or more of Woulfe Mining for pennies on the dollar. If that doesn't seem like an unethical rip-off scam to you then something is wrong with your way of thinking. In my opinion Ned Goodman is ordering his WOF interim CEO Hubert Marleau to basically drive down (manipulate) the stock price with these asinine updates from the company. If you don't believe me then call the former investor relations Nick Smith. This is how I came to this conclusion in the first place. Plus I did a little research to see if there was any truth in the information I received from him. I am simply presenting a logical hypothetical explanation for the Woulfe Mining share price collapse recently and a possible motive behind it.
https://www.stockhouse.com/companies/stories/v.vox/8778449
You should read this information. I found a good example for you to compare Woulfe Mining.
In connection with the Offering, the Agent will receive a cash commission equal to 5% of the gross proceeds raised under the Offering.
The Debentures and any Shares, Warrants and Warrant Shares will be subject to a hold period expiring four months and one day from the date the Debentures are issued.
It is currently anticipated that Dundee Corporation, who beneficially owns approximately 18% of the outstanding common shares of the Company, will participate in the Offering and may purchase up to the entire aggregate principal amount of Debentures sold under the Offering. The President and CEO of Dundee Corporation, Mr. Ned Goodman, is also a director of 360 VOX and the Agent is a wholly-owned subsidiary of Dundee Corporation. In the event the Offering is completed at the aggregate principal amount of $9.5 million, and Dundee Corporation is the only purchaser, the Company will have 330,589,584 common shares outstanding after giving effect to the conversion of the Debentures and the exercise of the Warrants, of which Dundee Corporation will beneficially own 115,885,281 Shares (or approximately 35%).
https://www.stockhouse.com/companies/stories/v.vox/8816766
The Debentures, Warrants and any Shares and Warrant Shares will be subject to a hold period expiring four months and one day from the date the Units were issued.
Dundee Corporation, who beneficially owns approximately 18% of the outstanding common shares of the Company, purchased 8,800,000 Units under the Offering. The President and CEO of Dundee Corporation, Mr. Ned Goodman, is also a director of 360 VOX and the Agent is a wholly-owned subsidiary of Dundee Corporation. Upon completion of the Offering, the Company will have 330,580,536 Shares outstanding after giving effect to the conversion of the Debentures and the exercise of the Warrants, of which Dundee Corporation will beneficially own 110,876,900 Shares (or approximately 34%) on a partially diluted basis.