RE:RE:RE:RE:Big contractMixed feelings on this... I don't agree with the cynical thoughts regarding possible buy-out for cheap. However, this is definitely a pretty slick move by debenture holders to accumulate a ton of low price shares. Also seems a little suspicious that they haven't yet assigned a conversion price, with a plan to wait until financials out in May. Chairman will definitely benefit if the share price stays low until conversion price determined. We shouldn't be surprised since this stuff happens all the time when you buy stock in companies with debenture debt.
On a positive note, once settled, it will improve the balance sheet going, reduce interest payments, and ensure chairman's interests will be strongly aligned with our own. If you haven't already, you should read the March 10 information circular on Sedar. Explanation seems reasonable. Debenture holders essentially unable to participate in any share price accumulation from this point since original conversion was $3.85. Stock felt to be underpriced. Wish I was a debenture holder since this sounds like a pretty sweet deal. That said, I think we'll all benefit once this is over and done with. Let's get this behind us, and then we can move on and enjoy what's coming.