Africa Energy Corp V.AFE

Alternate Symbol(s): HPMCF

Energy Oil & Gas E&P

Africa Energy Corp. is a Canada-based oil and gas exploration company focused on South Africa. The Company owns approximately 49% of the common shares and 100% of the Class B shares in Main Street 1549 Proprietary Limited (Main Street 1549), which holds a 10% participating interest in the Exploration Rights for Block 11B/12B offshore the Republic of South Africa (Block 11B/12B). Block 11B/12B is located in the Outeniqua Basin approximately 175 kilometers (km) off the southern coast of South Africa. The block covers an area of 19,000 square kilometers (Km2) with water depths ranging from 200 meters in the north to 1,800 meters in the south.

TSXV:AFE - Post by User

Africa Energy Corp

Bullboard Posts

Post by Oregonduckon Oct 26, 2020 6:16pm

209 Views

Post# 31783494

My Alternative Theory

It is illegal to short a stock pre-announcement of a contemplated private placement or involving based on inside information per IIROC rules (Canada) and SEC (US) in contravention of public interest.

However, post-announcement, hedge funds or investors could lock in the profits by shorting the stock AFE at much higher level e.g. $0.58 -0.60 and covering it with discounted private placement shares at $0.45 after closing announcement today.

Bullboard Posts

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