Potential new issue - Sprott Asset involvemenI too am finally glad to see the true value of GNM being noticed by smart investors. Not sure how an issue will be done at $1.50 in light of stock closing at $3.00 Perhaps a 20 day average price???
Here is a partial news release:
As part of that strategic review, GMC announced that it has entered into discussions with Sprott Asset Management to explore the possibility of entering into a management services agreement with Sprott Asset Management. GMC is also considering completing a $60 million private placement with a number of investors that would involve the issuance of 40 million units at $1.50 per unit. Each unit would be comprised of one common share and one common share purchase warrant, with each warrant being exercisable for two years at $2.50. It is anticipated that, if the private placement is completed, the management services agreement and a new management team will be put in place and there will be changes to its board of directors. Further details are not yet known at this time