Good time to accumulate?Reading past financings on PKG and I noticed a Private Placement financing that occured on Nov 25, 2019 that may be affecting todays trading.
Some of the terms are:
2019-11-25 06:36 ET - News Release
Mr. Peter Hinam reports
PARCELPAL CLOSES PRIVATE PLACEMENT FINANCING
ParcelPal Technology Inc. has closed its previously announced non-brokered private placement financing by issuing 4,071,353 units at a price of 8.5 cents per unit for gross proceeds of $346,065.
Each unit consists of one common share of ParcelPal and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of ParcelPal at a price of 15 cents per share for a period of 24 months from the date of issue.
The securities issued under the offering will be subject to restrictions on resale expiring on March 22, 2020.
Looks like some of the placement holders may take the opportunity over the next few trading days to sell off their shares and keep the warrants.
There is not a huge issue to overcome, however in the short term this may retard the share price from advancing to a desired level.
Good time to take this opportunity and load up, if you feel this is undervalued ( I surely do and I took a postion as well)
GLTA