Penbar Capital Ltd V.PEM

Primary Symbol: V.PEM.P

Industrials Conglomerates

Penbar Capital Ltd. is a Canada-based capital pool company. The principal business of the Company is to identify and evaluate opportunities for the acquisition of an interest in assets or businesses and, once identified and evaluated, to negotiate an acquisition or participation by completing a qualifying transaction. The activities of the Company are initially limited to the efforts to identify and evaluate the acquisition of assets and business, which would represent a qualifying transaction for regulatory purposes. The Company has not commenced commercial operations and has no significant assets.

TSXV:PEM.P - Post by User

Penbar Capital Ltd

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Post by rockport1on Jul 21, 2011 4:02pm

288 Views

Post# 18858547

BS Financing on the horizon?

I hope the weakness in price isn't because PEM is planning another round of financing. They have a terrible history of not taking care of existing shareholders in this regard. In 2009 they hit a high of around 55 cents in July, then sold off to under 20 cents where they did two placements at 20 cents (Oct & Nov). Nice, PP at the bottom.
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Last year (2010) same thing. They trade up to just under 70 cents in early in the year. They wait again until we are at a new low and do a huge $10M PP at 25 cents. Total BS! In both cases, once the PP is done, the stock is let free to run.
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I like the Idaho properties. They are doing great work here, but they do not take care of shareholders. I suggest everyone call or email (at least) the company and let them know you will be completely pissed if they do another PP at this level. Make sure they understand you are totally fed up with this crap.

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