TSXV:CLAS.H - Post by User
Comment by
Moonshiner592on May 27, 2021 8:48pm
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Post# 33283645
RE:Update on the Reverse Spilt
RE:Update on the Reverse SpiltMoonshiner592 wrote: This is from Bob:
Update on the Reverse Split:
The TSXV "five cent rule" comes back into effect on June 30. After that we can't sell shares at a price of less than $0.05.
If our shares are trading at less than $0.05 after June 30, we will not be able to raise cash at all. There won't be funds for the Phase 1 or Phase 2 studies and won't have the resources to do anything at all.
Our bankers tell us that investors don't want to invest in $0.03 shares, but will invest in Shares trading above $0.50. So we need to do the RS to get above $0.50, so we can raise the cash we need.
Bob Farrell
All I can say is - Vote "Yes".
We need those funds - granting of those funds will get us some green - we need that.
Not pumping here .. facts are facts - face it - and most of all get over it.!