GREY:MKRYF - Post by User
Post by
crazyinvestoron Jan 28, 2018 9:21pm
881 Views
Post# 27451537
Manitok did all this last year knowing they were broke - ???
Manitok did all this last year knowing they were broke - ??? Look below. The placements that took place while Manitok was balancing on a tight rope.
What did all this dilution get us. Two $hit companies and now we are almost bankrupt. Who goes out buying worthless companies while your own company is sinking?????? Where is all the money from the placements and the oil/gas production. What are th salaries right now???
There needs to be a MAJOR changing of the guard ASAP. The market expects it and as share
holders we should demand it.
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(1) In the first quarter of 2016, Manitok closed the final tranches of a private equity financing for the issuance of 15,973,631 Manitok Shares at a price of $0.13 per Manitok Share and 1,170,000 Manitok Shares on a "flow-through" basis under the Income Tax Act (Canada) in respect of Canadian exploration expense ("Manitok CEE Flow-through Shares") at a price of $0.15 per Manitok CEE Flow-through Share for gross proceeds of $2.3 million (net proceeds - $2.0 million).
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(2) In the second quarter of 2016, Manitok closed a private equity financing for the issuance of 8,435,945 Manitok Shares at a price of $0.18 per Manitok Share and 7,994,980 Manitok CEE Flow-through Shares at a price of $0.21 per Manitok CEE Flow-through Share for gross proceeds of $3.2 million (net proceeds - $2.8 million).
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(3) In the third quarter of 2016, Manitok closed a non-brokered private placement offering of 8,333,334 Subscription Receipts at a price of $0.18 per Subscription Receipt for gross proceeds of $1.5 million (net proceeds - $1.3 million). The Subscription Receipts were exchanged for Manitok Shares on a 1 to 1 basis.
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(4) In the third quarter of 2016, Manitok completed the corporate acquisition of Raimount Energy Inc. ("Raimount"), in which each Raimount shareholder received six (6) Manitok Shares and one and one-half (1.5) warrants ("Raimount Warrants") in exchange for each Raimount common share held. As a result, Manitok issued 41,207,196 Manitok Shares and 10,301,837 Raimount Warrants, which have an exercise price of $0.30 per Manitok Share for a term of two years.
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(5) In the fourth quarter of 2016, Manitok closed an equity financing by way of a short form base shelf prospectus as supplemented by the Corporation’s prospectus supplement for the issuance of 7,562,923 Manitok Shares at a price of $0.13 per Manitok Share, 4,599,829 Manitok Shares on a "flow-through" basis under the Income Tax Act (Canada) in respect of Canadian development expense ("Manitok CDE Flow- through Shares") at a price of $0.14 per Manitok CDE Flow-through Share and 23,605,879 Manitok CEE Flow-through Shares at a price of $0.145 per Manitok CEE Flow-through Share for gross proceeds of $5.0 million (net proceeds - $4.5 million).
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(6) In June 2017, the Corporation issued 56,896,511 Manitok Shares pursuant to a corporate acquisition of Craft Oil Ltd. The Manitok Shares were valued at $0.11 per Manitok Share based on the Corporation’s trading price on the TXS-V on the closing date of the acquisition, for a total value of $6.3 million.
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(7) In September 2017, the Corporation issued 43,979,927 Manitok Shares pursuant to the Corinthian Arrangement. The Manitok Shares were valued at $0.07 per Manitok Share based on the Corporation’s trading price on the TXS-V on the closing date of the Corinthian Arrangement, for a total value of $3.1 million (see "Major Transactions Affecting Financial Results").
As at November 28, 2017, there were 363,696,270 Manitok Shares outstanding, 20,597,300 stock options and a total of 45,081,481 warrants to purchase an equivalent number of Manitok Shares.