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Defense Metals Corp V.DEFN

Alternate Symbol(s):  DFMTF

Defense Metals Corp. is a Canada-based mineral exploration and development company. The Company is focused on the development of its 100% owned Wicheeda Project, which is located on the traditional territory of the McLeod Lake Indian Band in British Columbia, Canada. The Wicheeda Project consists of 12 mineral claims covering an area of approximately 8,301 hectares (20,534 acres) located 80 kilometers northeast of the city of Prince George, British Columbia, Canada. Its rare-earth elements project delivers critical metals commonly used in the defense and national security industries, and in the production of green energy technologies.


TSXV:DEFN - Post by User

Comment by Maxmoeon Jan 14, 2022 11:48am
94 Views
Post# 34317218

RE:Defense Metals Acquires 100% of the Wicheeda REE Project

RE:Defense Metals Acquires 100% of the Wicheeda REE ProjectNow wtf is wrong with the math? Defn was supposed to issue 49% of outstanding shares at the time the option was triggered. Wasn’t that 80 million @49% equals roughly 40 million shares? The presser says they issued 78 million additional freebie shares. So the o/s shares was 160 million? AND they issued (rounding) 80 million. So total shares now 240 million? WTF man, financials from sept 30 showed shares outstanding were 80 million.  So they should have issued 40 million to spectrum??????  Plus warrants and option of lord knows what. Does anybody know how many shares are actually outstanding and how many, if any other than the 1.2 million freebie “finders fee” shares have a hold vs free trading? OMG! Great big AVOID on this name until the market adjusts to whatever massive dilution just happened. 
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