RE:RE:RE:RE:Remember, Cole dropped half a million @ 5.90Tim, timing of raises are hard to predict.
In hindsight the two raises you are referring to on Feb. 24 and May 9th at at $5 and $6.50 represented fair value for long shareholders considering shares were trading for less than $5 in July and even today can be acquired at a significant discount compared to the last raise at $6.50.
I never had the feeling that the raises were sneaky. Sneaky is such a hard term to quantify. What seems sneaky to one person could be perceived as brilliant by another.
Raising cash when cash wasn't immediately required was brilliant decision by the board. If I recall correctly, the last raise by Aphria was timed perfectly sucking the life out of future raises by other comapnies. There hasnt been much appetite for raises since.
Regardless, I have been following Aphria for a long time and I can honestly say, I've never gotten the feeling that board decsions have been "sneaky". But then thats just my opinion.
M
TimMcCracken wrote: GoBlue2016 wrote: TimMcCracken wrote: GreenNme wrote: I could be mistaken but that's one of the biggest insider buys we've seen in this sector, no? I'm not worried holding my positions heading into Septmeber. I know this sector gets played like a yo yo by pros with their algos and less than moral brokers with level 3 access, etc. All I know is we're pretty damn close to getting a legalization bill passed the House of Commons. Shyts about to get real.
Green,
Don't forget that on March 1, 2017 Cole sold 1,000,000 shares @ $6.50/ share totalling $6,500,000.
He bought 100,000 shares on May 9, 2017 at $5.91/ share totalling $591,000
based on that he's net -900,000 shares or -$5,909,000
All this info can be found on SEDI.
Regards,
Tim
Tim
FWIW
both john and Cole crossed their shares to a strategic investor that put together the Fla investment.
And 6.50 was also the price of last bought deal.
I guess they didnt want to do a Gypsy Swap to get him in.
GoBlue
Hi Blue,
Thanks for the info, I am not trying to stir anything but the timing doesn't make sense to me.
There was a bought deal for $5/ share on February 24th ... around the same time or shortly after they announced up list to TSX (this was the raise I was mad at remember?).
Anyways the shares he sold at $6.50 were on March 1st after the $5 raise and TSX news up list announcement ... hence why I think they low balled their raise for longs ... they likely could have locked in a raise at $6 or $6.50 if they announced the up list first ... I imagine the investment banks likely needed some kind of insurance ... just like CGC swamp they had the CBC article a week after.
The $6.50 raise was on May 9th and oddly enough Cole was able to buy for $5.91 on this same day ... I'm guessing the share price dropped that day maybe? Anyways maybe I am missing something ... if I am please feel free to clarify.
Yes, Cole bought 100,000 shares @ $5.91/ share on May 9th ... but since they he's also been granted 150,000 options.
June 1st - 50,000 options @ exercise price of $5.44/ share
July 11th - 100,000 options @ exercise price of $5.24
You know that I have always questioned and been critical of the timing Vic's cash raises as I feel he's been sneaky and it's all there on SEDI.
Green,
it it is not my intention nor do I think it is immature to post credible information that is black and white.
It's not like I made this up ... the information is readily available on SEDI.
Prof,
no comment other then let's see if you can respond with something of value other than piggybacking on whatever GoBlue says ... let's see if you can do it with the following conditions (1) don't insult anyone else (2) don't bring up CGC.
Here's your chance ... prove yourself to your people.
Regards,
Tim