RE:RE:Wow!Ari, shareholders have very good reason to be extremely upset as we slowly learn more about the completely unnecessary 50% dilution to shareholders, and the control of the corporation being handed over to GSFC on December 24, 2018.
There is no reason to doubt the past CEO’s statement “ KRN had sufficient cash resources to fund its annual costs, and did not need the proceeds from the Rights Offering to fund such costs”
So why was it so important then to fast track an announced November 14, 2018 financing of approx. $2.4 million at an astronomical cost to shareholders?
Based on his vast experience in Canadian securities law and finance, there is also no reason to doubt the past CEO’s August 2019 warning to the KRN Board: “… there was a risk that KRN and the KRN Board could face legal action for misrepresentation”
That alone should be enough for the ASC and TSX to start digging much deeper into the expedited Rights Offering, and 10 fold increase in decommissioning liability, as shareholders really took it on the chin and for what?
The words shareholder oppression is being used a lot in CSG legal docs, so maybe its about time the regulatory boards look into it!