RE:Copper prices to rise in 201510 bagger??? How?
If this loan from Galena is approved, Galena owns between 55% to 65% of the shares of Mawson, they than have diluted the share structure to more than 300 mil.
So for this 50 mil. CAD they get half or more from Mawson including a mountan Copper worth minimum 400 mil CAD
That is the deal and copper price may sink further because they have everything allready done by Mawson. They don't need a copper price above 6000 a ton.
Who is paying......???????? investers.
So I have sold my 88000 shares yesterday that I bought friday: should have done my homework before but I was to greedy.
below you can read what has been agreed. (if the deal is not approved by the TXT venture then thinks are even worse)
Assuming receipt of the Exemptions and all other requisite approvals:
- upon completion of the Private Placement, Galena would own 41,666,667 ordinary shares of Mawson West, representing approximately 19.99% of the outstanding ordinary shares of Mawson West;
- upon completion of the Private Placement and the exercise of the Loan Warrants, Galena would own 117,424,243 ordinary shares of Mawson West, representing approximately 40.9% of the outstanding ordinary shares of Mawson West;
- upon completion of the Private Placement, the exercise of the Loan Warrants and the exercise of the Bridge Loan Warrants, Galena would own 125,000,001 ordinary shares of Mawson West, representing approximately 42.4% of the outstanding ordinary shares of Mawson West; and
- upon completion of the Private Placement, the exercise of the Loan Warrants, the exercise of the Bridge Loan Warrants and the completion of the Additional Financing, Galena would own (A) 197,000,001 ordinary shares of Mawson West upon purchasing the minimum number of shares it is entitled under the Back Stop Agreement, which would represent approximately 54.0% of the outstanding ordinary shares of Mawson West, and (B) 305,000,001 ordinary shares of Mawson West upon purchasing the maximum number of shares it is entitled under the Back Stop Agreement, which would represent approximately 64.5% of the outstanding ordinary shares of Mawson West.
Read more at https://www.stockhouse.com/news/press-releases/2014/12/15/galena-announces-proposed-financing-transactions-with-mawson-west-limited#uDjlOoTiIIbAfKrI.99