TSXV:EVE.H - Post by User
Comment by
OrsonModestoon Oct 13, 2018 9:30pm
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Post# 28796029
RE:A huge amount of cheap paper free trading on Monday
RE:A huge amount of cheap paper free trading on MondayThe equity portion of the financing you are referencing was not subject to a 4 month hold, but were held in escrow until the satisfaction of certain release conditions. The June 28the news release related to the closing of the qualifying transaction made it clear these shares were already being released from escrow. So it’s likely many of these shares have already been dumped.
If you look at the latest SEDAR filing, made by MMCAP, it confirms they are the result of much of the recent selling pressure. They also now control all outstanding debentures and warrants, which is about 20% of the company’s shares.
How many shares they will continue to dump is anyone’s guess, but they still hold a lot.