GREY:WFEMF - Post by User
Comment by
GaiusGermanicuson Jan 22, 2014 12:15pm
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Post# 22120748
RE:RE:Vancouver Resource Investment Conference 2014
RE:RE:Vancouver Resource Investment Conference 2014Ark, my bet is that they're trying to get them to waive anti-dilution clauses simlar to the one that was invoked when Ned thoughtfully provided that bridge loan for 10M Shares. Needing to do significant dilution to get further funds an incoming investor looking to essentially be in a takeover position wouldn't want those clauses intact or at least would want to be aware of the intent of the holders of those clauses with regards to buying during what will hopefully be the last dilution we see. Having them all sign waivers would be the surest guarantee of that intent.
Usually you insure such waivers exist when you know you're buying value on the cheap, you don't want that value diluted by someone being able to buy shares at the same sale price you're getting them for even if they have been around longer than you have. The White Knight you see has a squire that needs to be fed as well . . .
I've had to waive an anti-dilution clause to help keep a company afloat before. Not that I had a ton of stock to begin with, but they wanted ALL the insiders to waiver away their clause before we could do a merger.