RE:RE:PCY Selling NKL Shares
That is not the wierd part, on Aug 29 Form 45-102F1 was filed on SEDAR announcing PCY as a 10% security holder of NKL was selling 921,300 NKL shares on the open markets. At that time they declared having 22,668,008 NKL shares. These sales did not seem to have an impact on SP (assuming they happened) and that form was not accompanied by any kind of NR.
Now on Oct 17 a new form 45-102F1 is filed accompanied by a NR saying that PCY as a Control Person is selling 17,300,000 in a private transaction and that they currently hold 24,859,224 shares of NKL.... HUH??? Did anyone see PCY buy and NKL shares in the last month? If they did as a 10% holder they sure did not declare it so how did they end up with 2MM more shares in one month?
As for the NR they say they will be repaying about $7 MM loan which works out to about .41 per share. Not saying that is the price but that seems to be implied here.
Something very shady going on here with Mr. Lee, good thing the Venture has such great transparency safe guards in place, imagine if they didn't!!!