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Orecap Invest Corp V.OCI

Alternate Symbol(s):  ORFDF

Orecap Invest Corp. is a Canada-based company. The Company’s focus is on special situation investments in the natural resources sector, precious and critical metal assets and businesses. The Company has equity positions in portfolio companies, such as American Eagle Gold, QC Copper and Gold, Mistango, Awale Resources and Cuprum Corp., in addition to owning a broad portfolio of land packages focused on gold, copper and zinc. The Company’s portfolio includes American Eagle Gold, QC Copper and Gold, Mistango River Resources, Awale Resources, and Cuprum Corp. Its American Eagle Gold is focused on advancing its NAK property located in the Babine Copper-Gold Porphyry district in central British Columbia. QC Copper is focused on acquiring and developing copper projects in the Chibougamau region. The Company owns several gold projects: the Mirado project near Kirkland Lake, the Knight project in the Shining Tree District and the McGarry Project near Virginiatown, Ontario.


TSXV:OCI - Post by User

Bullboard Posts
Comment by Poriemonon Jun 27, 2017 11:18am
75 Views
Post# 26408564

RE:Escrow shares

RE:Escrow sharesit appears to roughly be the options and warrants outstanding.  I don't think that's typically how those are disclosed, so I think it might be a mistake.

Long and short of what I've found:
-Corporate presentation shows O/S count at 58.7m (lines up with your link); fully diluted is 69.0m shares
-The 58.7m O/S + the 12.7m "escrow" = 71.4m; 71.4m less the april expiries of options and warrants of 2.4m = the fully diluted 69.0m disclosed.

The bigger issue comes from trying to reconcile the 12.7m shares:
-For starters, we can conjecture it still includes the April expiries (see reconciliation above); thus all o/s warrants and options at Jan 31 would be applicable.  But those amount to 10.3m shares.
-Based on the above, there's an additional 2.4m options or warrants or other form of equity (aside from common shares).  Appears to be an option grant as there wasn't one yet in Q1.

TL;DR
Escrow likely is warrants and options (which is an odd presentation).  The amount per TMX doesn't appear to be updated for the April option/warrant expiries of 2.4m and so likely should only be 10.3m instead.  It also appears that 2.4m options were granted in Q2?
Bullboard Posts