This is just the organized exercise of prior warrantsHence the reference to April 13, 2016. These warrants were part of Oceana's original investment in 47.66 million shares at $C 0.14. So, these shares were already planned two years ago. The original shares were $C .14, there was a 2nd buy at $.42 I think, now these at $.20.
Separately, may I take a second to discuss the subsequent buy in at $.42, near the top. As has been discussed, if Oceana had tried to buy those shares in the market, it could have driven the price way up, or delayed the Waterton decline. There is no reason to think they could have bought cheaper in the open market, but I do wish they would try. Now wouldn't that be good news. :)
"OceanaGold Corporation intends to exercise its equity participation right in NuLegacy financings (see news release dated April 13, 2016) by purchasing such number of Units as required to maintain its current undiluted equity ownership interest in NuLegacy Gold at 16.2% (2.4 million Units on full subscription). In addition, certain directors and officers of NuLegacy (collectively “Insiders”) intend to participate in the Financing for a substantial number of Units."
Original Transaction:
https://www.nulegacygold.com/news/news-releases/2017-and-prior/2016/nulegacy-gold-announces-6.67-million-strategic-investment-by-oceanagold-corporation/