Now we know who has been selling and whyA major restructuring of the debt agreement with Sprott. Great news from my initial scan in many ways.
I think everyone on this board has been wondering, with all of the good things finally happening who would be selling. Well now we know...
As consideration for the amendment, TMAC agreed to reprice up to 1,900,000 outstanding warrants currently held by the Sprott Lenders that were issued with the signing of the Credit Agreement in 2017. The warrants will be repriced at a 25% premium to the five-day volume weighted share price of TMAC ending April 30, 2019.
A juicy repricing of the warrants at about $5 would be my guess. Next will be a record Q1 announcement tomorrow after market closes.
https://www.tmacresources.com/investors/news-releases/Press-Release-Details/2019/TMAC-Resources-Amends-Credit-Agreement-to-Eliminate-Next-12-Months-of-Principal-Payments/default.aspx