Error in press release, payout is 40 cents USD not CdnOn the CSE Exchange it is noted:
Investor Note: In addition to the 33,620,286 Subordinate Voting Shares that are listed and trading, there are 109,145,850 shares issued and outstanding but not listed. The total number of equity shares assuming all are converted into the listed class would be 142,766,136.
From this share amount we must remove shares that will be not converted namely:
- 7,500,000 purchase warrants at $ 2 per share
- 3,640,320 purchase warrants at $ 1 per share
- 1,250,000 purchase warrants at .50 cents per share
This means that the total float will be: 130,375,816 shares
If we multiply 130,375,816 by 40 cents Cdn payout it gives $ 52,150,326
But Poda said that they will have $ 70 million, keep $ 1 million and, payout the rest which is $69,000,000.
That means a payout of 52 cents Canadian or 40 cents USD (exchange rate 1.29)
Someone needs to write to Ryan and tell him of the typo that was made in the press release. It should read 40 cents USD.
Also what happened to the $14 million in cash plus the few extra million from conversion of warrants and options that will be done. Seems to me that this should be paid out too the shareholders.
My personal opinion,