RE: RE: TALKING ABOUT REPOSTING THE PAST
Report of Exempt Distribution https://www.bcsc.bc.ca/Search/Results.asp?s=encore
January 29, 2010 EZ sold 5,000,000 units at
.20 per unit for total proceeds of $5,000,000
Feb 26 , 2010 EZ sold 7,500,000 common shares at a deemed price of
.12 per common share for proceeds of $900,000 .
Here is what makes me think the 5mil PP is held in trust .
1) It was raised on Jan 29 yet they raised a further $900,000 on Feb 26 .Why would they need more cash so soon ?
2) The 5mil PP was sold at .20c , a premium to the market . It would be a much easier sell if the subscribers knew that their cash was to be held in trust pending Encore reaching certain milestones or , " doing certain things ." That could take all the risk out of investing .
5mil raised at a premium to market and held in trust would give investors an unfounded vote of confidence in Encore if that fact was not disclosed .