Sept PP Shares Being Dumped The private placement from last September is now free to trade .... and yes, someone is dumping them at six and 6.5 cents. Since there were 35 million units, expect a lot of resistance to any price rise. With 17.5 million attached warrants that can be cashed in for a dime we can expect another wall at 12 cents.
2011-09-01 16:45 PT - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Aug. 2, 2011.
Number of shares: 35.47 million shares
Purchase price: Five cents per share
Warrants: 17,735,000 share purchase warrants to purchase 17,735,000 shares
Warrant exercise price: 10 cents for a two-year period
Hidden lacees: 84 hidden placees
Pro groups: Dino Mollo, 50,000; Martin Burian, 200,000; Kevin Campbell, 350,000; Brad Nguyen, 100,000; Frank Stronach, 200,000; Court Moore, 150,000; Peter Ross, 250,000; Tri Fund (John Tognetti and Kyle Mclean), 1.1 million; San Jacopo Trading Inc. (John Tognetti), one million; Maria Pedrosa, 200,000; Kyle Mclean, 260,000; William Smith, 40,000; Cindy Schoenhaar, 50,000; Brothers Creek Trading Ltd. (Donald Hewson), 700,000; Donald Hewson, 300,000
Insiders: Harold Forzley, 2.6 million; Stephen Millen, 300,000
Finders' fees: $20,200 cash and 404,000 finder warrants exercisable at five cents for two years, payable to Haywood Securities Inc.; $35,800 cash and 716,000 finder warrants (same terms as above), payable to Canaccord Genuity Corp.; $16,760 cash, 350,400 finder units and 685,600 finder warrants (same terms as above), payable to Jordan Capital Markets Inc.; $800 cash and 16,000 finder warrants (same terms as above), payable to Union Securities Ltd.; $3,200 cash and 64,000 finder warrants (same terms as above), payable to Daniel Whittle; $20,000 cash and 400,000 finder warrants (same terms as above), payable to Fraser Mackenzie Ltd.