TSXV:TCI.H - Post by User
Comment by
HouseSpeaker007on Jul 23, 2018 5:02pm
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Post# 28355386
RE:Too many questions?
RE:Too many questions?run33 wrote: So if TCI is doing the deal at $.11 cents, what price per share are 51st Parallel shareholders paying i the $50 equity raise? If its done at $.10 cents that's 500 MIL shares.
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51st Parallel subscription receipt financing In conjunction with the closing of the transaction, 51st Parallel has entered into an agreement with a syndicate of investment dealers led by Eight Capital and including Cormark Securities Inc., Canaccord Genuity Corp., AltaCorp Capital Inc. and Atlas Capital (each a member within the meaning of the policies of the TSX-V, other than Atlas Capital), for a brokered private placement offering of subscription receipts of 51st Parallel at an issue price to be determined in the context of the market on a best efforts agency basis for aggregate gross proceeds of up to $50.0-million."
Impossible to put a value on this when the largest variable is unknown.
It will be higher than .10 cents I am sure. Could ve at .20 even, 250,000,000 shares sounds like a decent float going ahead with further acquisitions and day share price per earnings performance. .40 cent warrants will be excersized by the time all three phases of expansion are completed. Regardless, you dont want to sell when we are on the first page of BNN and the globe and mail. We should have over 10 million shares trading tomorrow, if MM are capable of keeping this abover .15 than a .20 pp is very possible and ideal.