High River Gold Mines Ltd HRIVF

We may be able to apply to the TSX for a minority

[Critical_Mass]

https://www.allbusiness.com/company-activities-management/company-structures-ownership/13151404-1.html

Although the dilution is only 23% and at first doesn't seem to qualify, the tsx may have grounds to require a minority vote due to the circumstances surrounding this. I.e. a highly manipulative majority holder, as well as the fact that this is the second dilution, in totalling more then 25% within a short period.

It is certainly a grey area. But maybe we can put a roadblock up in the short term. If they see it as a manipulative issuance, hopefully the TSX may order a vote anyway. At least we need to apply for a hearing which should delay this for a number of months.

I do not entirely see this as negative though although I am concerned by many of the points raised by other posters. I believe we will be able to block any low takeover offer again unless the price is much higher. But there can't be any weak links and it obviously depends on the next offer they make. One plus at least, Severstal is no longer the majority holder if this goes though. I certainly agree they could have obtained much higher then 38c in this gold environment. But all else equal the new shareholder is certainly has its own self interest first. The question is what backroom deal they have made with Severstal to get them to sign off on this issuance at this rediculously low price.