it has passed unnoticed but Evenergy, the Chinese company that bought PLX at C$0.48, is not just another investor. Evenergy is a big player in the Chinese energy market with ample liquidity and we all know that the Chinese investors love investing in the Canadian energy sector, so this fact has multiple positive implications for PLX such as a buyout at a later time with a significant premium, additional cash injection at a later time if needed etc.
it has also passed unnoticed that Evenergy chose PLX among all the Canadian energy producers, which means that the Chinese investors realize the company's absurd undervaluation and significant upside potential. They realize that PLX's upside potential is significantly higher than those of the other Canadian energy producers. They are in PLX to maximize their ROIs, they are not in PLX just because they wanted to own a Canadian energy producer.
Point Loma Resources Announces Investment Agreement with Evenergy Company Limited for proceeds of $4,020,000
CALGARY, AB--(Marketwired - May 24, 2017) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to announce an investment agreement with Evenergy Company Limited ("Evenergy") for Evenergy to acquire 8,375,000 common shares of Point Loma for $4,020,000 representing a purchase price of $0.48 per share (the "Investment").