GREY:BLPFF - Post by User
Comment by
PruneFaceon Mar 01, 2018 2:44pm
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Post# 27646044
RE:RE: CHEAP BLK - 46 cents - NEWS - ACQUISITION
RE:RE: CHEAP BLK - 46 cents - NEWS - ACQUISITIONThe market appears underwhelmed with this announcement. Frankly, so am I. Africa?
The one statement which gives me some comfort is 'BLOK Tech will further own an option to acquire global rights (minus the licensing rights to the Philippines) for $1,000,000 USD to be exercised within 18 months of the execution of the Definitive Asset Purchase Agreement;
The timing of this announcement is likely designed to help mitigate the effects of unlocking of 8.25 million shares from the $0.20 financing back in Nov 2017. The four month hold officially ends March 4 but, with the T+2 settlement date, a holder of those shares could legally sell into the market tommorrow with settlement on the 4th. The unlocking of these shares may account for the recent weakness in SP, along with general sector and market malaise. I suspect there will be continued pressure as holders of that placement look to lock in some gains.
There will likely be more opportunity for accumulation over the next few days and weeks.
AIMO