Wow...bought more at .165 Incredible. I wasnt expecting this to happen either but im very pleased. I'm still in Toronto at the PDAC and took a step back when someone came up to me and said "EDE just diluted by 50 percent" I am now sitting in a Starbucks writting this because i have no internet where i am staying. Sooooo,,,,from what i can see this was a great deal. I quote from the news release "The net proceeds of the Offering will be used exclusively to develop the Company's oil assets with the objective of significantly increasing production and reserves from the Company's recently acquired assets in Primate, Saskatchewan and from the Company's existing oil-producing property in Grand Forks, Alberta."
This is fantastic. You really have to look at the big picture here. Henderson just wrote a check for $4,500,000 million dollars. That will get them 30,000,000 shares that makes them a 28% holder...not 50. What i find really interesting is that they did this without any warrants, unheard of in Canada, no broker warrants and on a fee of 5%...again never heard of in North America. Usually its 10% commision 10% broker warrants, and a truck load of warrants, so think of the dilution that was saved there. This was a great move by Brad. The company now has the $$$ to really move forward. Givin the current market conditions over all i dont think he could have set up a better deal. Not only has EDE sucured the funds for increasing their oil production but also now have a long-term partner who obviously sees massive potential.
Cheers
Please do your due diligence.
Any comment please post them ....lets talk about the real potential of this company,