why is NGC halted?The Transaction is considered a "Fundamental Acquisition" under TSX-V policies and accordingly, trading in the Company's shares has been halted until the earlier of satisfactory review of the Transaction by the TSX-V or closing of the Transaction.
So it's not just a PP to "raise some money for exploration and corporate activites"
But it's priced at a discount like it is.
Guess in some place "Fundamental Acquisition" means squat re PP pricing.
Interesting that 142,055 shorts were able to cover during the period Dec 1-15 but trading was halted Dec 2. Hmmmm
At least the warrants don't have a clause requiring them to be exercised if SP is above X$ for Y days...I've seen that put selling pressure on SP as PP participants sell shares to raise $ to exercise warrants.
JMHO