GREY:EPWCF - Post by User
Comment by
geesemanon Dec 17, 2020 6:48pm
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Post# 32136718
RE:Message to all shorters out there.....
RE:Message to all shorters out there..... Sorts are going to make money on this pig.
Take a look at the financing part of the deal in the press release.
TERMS OF ACQUISITION
Pursuant to the terms of the Agreement, Empower will pay the vendors of Momentum Health $275,000 cash at closing (including $44,648 to settle an outstanding debt of Momentum Health) with an additional $75,000 to be withheld as a holdback for adjustments, for an aggregate cash payment of $350,000. In addition, at closing, Empower will issue Dr. Jordan Rabinowitz and Dr. Aviv Tsimerman or their affiliates 5,128,204 common shares in the capital of Empower (at a deemed price of $0.0975 per share), 2,564,102 of which will be subject to contractual resale restrictions resulting in them being released quarterly from the date of closing in eight (8) equal instalments.
So the company values the share price at $0.0975.....they had to wait for the warrant money to hit be bank account so they could do this deal.
Good luck to all......I am hitting the sell button first thing tomorrow.