RE:RE:RE:RE:RE:RE:RE:RE:RE:Article for you guysI believe that management would prefer any new investment to come from anyone but Greenstone. Management does not want to lose control. Management can dramatically increase their ownership if they exercise their stock options.
According to the March 31, 2016 Financial Statements, there are 15,386,000 of stock options with an exercise price of CAD $0.30 or less, apparently owned by management. So if Excelsior's stock rises, these options will get exercised.
By exercising these options, and getting most of the votes from individual investors, management could still control the company. I prefer this, since I believe that Greenstone does not part with their money easily, and drives a hard bargain.
Currently Stephen Twyerould holds 4.7 million shares and Roland Goodgame holds 1.3 million shares. Mark Morabito holds 2.7 million shares. (Info is in the Annual Information Form).
I believe that management's interest is aligned with that of the individual investors. They have devoted years of time and their own money to bring this project to fruition. They don't want to be massively diluted by Greenstone. So of course they are seeking financing from other sources, instead of taking the easy way out and getting the money from Greenstone.