Good News about Financing
As I said before I believed the Company was messing around with the stock price. The recent weaknesses can now be attributed to the Company driving the stock price down to facilitate the latest financing. It would be good to have this PP done at a higher level, but that is just not reasonable as they are always done as sweet-heart deals to attract big money. Greenstone Capital is bankrolling the Company - as insiders - and that's the good news. They pretty much owned the Company. This will get approved by "disinterested" shareholders since retail shareholders as a group hold about 21% of the total shares. Taking out Greenstone, the institutional investors (under TSX Exchange rules they are not insiders) and together with Management would swing the votes count holding more than 50% majority of the "disinterested" pool. I am sure most retail shareholders will also approve since this financing is very positive for COP.