RE:New acquisitionIn addition, the Company has entered into an agreement with a syndicate of underwriters (the “Underwriters”) co-led by Beacon Securities Limited (“Beacon”) and National Bank Financial Inc. (“NBF”) pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 20,000,000 units (the “Units”) at an issue price of $0.40 per Unit (the “Issue Price”) to raise aggregate gross proceeds of $8,000,000 (the “Offering”).
$.40 per unit!? Wow did management ever sell themselves short... this is a terrible deal for existing shareholders. Made sense to unlock share value when GDNP was trading much higher, but at these levels no way! They should be focusing on streamlining existing operations and cost controls, especially after the other two acquisitions in the past couple years. This will trade into the $.30s soon....