FMack - Dec.19 - FED has ~$4M in cashFrom the Fraser Mackenzie report released on December 19, 2011:
The currently has approximately C$4 million in cash and could add a further $22 million assuming the exercise of outstanding options and warrants (most of which are now out of the money). [Note > There are ~26 million warrants at a weighted average exercise price of 72.6 cents.]
company Source:
https://www.frasermackenzie.com/newresearch/POTASH_COMPENDIUM/FINAL_RPT_POTASH_Prattas_191211.pdf
TRADING HISTORY [CLOSING PRICES ABOVE 70 CENTS]
November 28, 2011 > closing price of 70 cents. (volume: 340,083)
November 24, 2011 > closing price of 70 cents. (volume: 251,503)
November 23, 2011 > closing price of 73 cents. (volume: 1,358,965)
November 22, 2011 > closing price of 72 cents. (volume: 1,239,109)
August 11, 2011 - September 7, 2011 > closing price above 70 cents (volume: 3,708,292)
May 25, 2011 - August 5, 2011 > closing price above 70 cents (volume: 22,258,946)
May 16, 2011 - May 18, 2011 > closing price above 70 cents (volume: 1,073,187)
March 18, 2011 - May 12, 2011 > closing price above 70 cents (volume: 34,783,010)
March 11, 2011 > closing price of 75 cents (volume: 7,012,158)
From the ANNUAL INFORMATION FORM POSTED AT SEDAR on December 14, 2011
Securities Subject to Restriction on Transfer
On February 10, 2011, Bayfront Capital Partners Ltd., Salman Partners Inc., Frazer Mackenzie Limited
and each of the directors, officers and principal shareholders agreed pursuant to a lock-up agreement
(the Lock-Up Agreement) that, subject to certain exceptions, each director, officer and principal
shareholder will not, directly or indirectly, offer, sell, or otherwise dispose of any securities of the
Corporation held by him for 24 months from March 9, 2011, provided that: (i) 50% of the securities are to
be released from the lock-up after 12 months following such date; and (ii) the remainder will be released
after 24 months following such date.
As of the date hereof, the following securities are subject to a contractual restriction on transfer pursuant
to the Lock-Up Agreements:
Designation of Class: Common Shares
Number of Securities Subject to Contractual Restriction on Transfer: 58,988,926
Percentage of Class: 54.3%(1)
Designation of Class: Options
Number of Securities Subject to Contractual Restriction on Transfer: 8,500,000
Percentage of Class: 80.9%(2)
Designation of Class:
Warrants
Number of Securities Subject to Contractual Restriction on Transfer: 51,000
Percentage of Class: 0.21%(3)
Notes:
(1) Based on 108, 637,226 Common Shares issued and outstanding as of December 9, 2011.
(2) Based on 10,512,162 Options issued and outstanding as of December 9, 2011.
(3) Based on 24,606,200 W arrants issued and outstanding as of December 9, 2011.
INSIDER ACTIVITY FOR THE LAST 12 MONTHS
NET BUYING OF 10,000 SHARES
Source:
https://www.quotemedia.com/results.php?qm_page=82874&qm_symbol=FED:CA
LAST FINANCING: FEBRUARY 10, 2011
Thursday, 10 Feb 2011 05:04pm EST
Panorama Resources Ltd. announced the closing of Ethiopian Potash Corp.'s (EPC) private placement of subscription receipts. As previously announced the EPC Private Placement is a condition to the completion of the proposed amalgamation of Panorama and EPC (amalgamation). The EPC Private Placement was a brokered private placement of subscription receipts of EPC for gross proceeds of $11 million to EPC. Each subscription receipt was sold at a price of
.50 and is convertible into one unit of EPC (EPC Unit). Gross proceeds from the EPC Private Placement have been deposited in escrow and will be held by the subscription receipt agent until the satisfaction of certain release conditions (Escrow Release Conditions), including the receipt of all regulatory approvals required to complete the Amalgamation. The net proceeds of the EPC Private Placement will be used to aggressively develop and fast-track to production the Danakil Potash Permits in Ethiopia. EPC, as the resulting issuer of the Amalgamation, anticipates that it will commence drilling with two rigs in March, 2011, focusing up-dip of the Musley deposit in the southwest corner of the Property, as well as on the eastern side of the Property (where potash was historically mined at Colluli).
https://www.reuters.com/finance/stocks/FED.V/key-developments/article/2084105
Ethiopian Potash to list 25.92 million warrants
https://canadianwarrants.com/company/e/FED.html
2011-03-10 14:50 MT - Warrants Called to Trade
Effective at the opening on Friday, March 11, 2011, the common share purchase warrants of the company will commence trading on the TSX Venture Exchange.
Corporate jurisdiction: Ontario
Capitalization: 25.92 million warrants with no par value of which 24 million warrants are issued and outstanding
Transfer agent: Olympia Trust Company
Trading symbol: FED.WT
Cusip No.: 297653 12 3
The warrants were issued pursuant to two private placements completed by the company's predecessor prior to the reverse takeover. Each warrant entitles the holder to purchase one common share at a price of 75 cents per share and will expire on Sunday, Sept. 9, 2012.
UPCOMING DELIVERABLES
> Holes 9-19 from the Discovery Zone in the Southwest Corner of FED's Danakil Potash Project pending.
> Results from core sampling extended to cover the upper portion of the potash bearing horizon for Holes 5, 6, and 8 from the Discovery Zone in the Southwest Corner of FED's Danakil Potash Project pending.
> Holes 20-29 from the Discovery Zone in the Southwest Corner of FED's Danakil Potash Project to be drilled/completed/finished in January.
> FED expects to issue a new 43-101 resource estimate in the early part of Q1-2012 (eta late January to mid-February)
> Drilling campaign on FED's shallow Colluli target area is expected to commence in February 2012.
From the May 2011 Corporate Comparables Sheet > PAGE 2:
https://ethiopianpotash.com/EP_Comp_Sheet.pdf
Re: top row in the table
Financed through Feasibility without dilution > Answer: YES (warrants)
POSTED AT SEDAR on December 19, 2011
SHAREHOLDER RIGHTS PLAN AGREEMENT BETWEEN
ETHIOPIAN POTASH CORP.
- and -
OLYMPIA TRUST COMPANY
as Rights Agent