Fending off a Hostile Bid...Desperate Strategy...It is very sad indeed when the only tool you have left in your tool box is to issue shares which in turn creates dilution to existing shareholders. I find it most interesting that CEO Pascal Hamelin mentioned in the video I previously posted that he does not need a broker to raise money...he just picks up the phone and contacts his loyal supporters...must be nice to access a piece of the action in significant sizeable blocks at reduced pricing...can you imagine where the share price would be if retail investors purchased that amount of shares on the open market...yes...the "little guy" gets the short end of the stick...so be it...it is what it is...we know that before we invest.
Let us take a look at what their desperate moves to secure their jobs has been in the last three months;
December, 2020...issued 13,043,478 common shares @ $1.15
March 2021...9,030,000 flow through shares @ $1.44
2,000,000 common shares $1.05
...to be completed very soon.
That adds up to 24,073,478 shares...Wow! In Just three months!
What will really upset the longs here is that his "supporters" are going to be the winners...either way...discounted shares on a decent property with excellent potential moving forward.