RE:Even the CEO bought SMB shares at 7.5 cents.grewalmeet, that's just the tip of the iceberg friend Simba's management picked up 8+ million shares in the PP last year. Heres the info:
Robert Dinning, John Burns, Keith Margetson, James Dxck and Hassan Hassan (the "Insiders"), all directors and/or senior officers of the Company, subscribed for a total of 8,815,000 Units. The Company relied upon exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 contained in section 5.5(b) and 5.7(b), respectively, with respect to the issuance of the Units to the Insiders.
All securities issued pursuant to the Private Placement are subject to a four month hold period expiring on November 1, 2014.
About Simba Energy:
Simba Energy Inc. is establishing itself as a diversified international explorer and developer with a growing oil and gas acreage position in Africa, with onshore Production Sharing Contracts in Kenya, Guinea and Chad.
https://simbaenergy.ca/news/simba-energy-closes-first-tranche-of-private-placement.aspx