TSXV:FGC.H - Post by User
Post by
inseon May 27, 2022 12:19am
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Post# 34711135
Too bad
Too badToo bad FGC is halted for the wrong reason.
On May 9th, 2022 FGC was halted because a Cease Trade Order was issued for failing to file its audited annual financial statements.
On May 12th, 2022 Frontline announced issuance of shares for debt settlement - this should have been hugely positive for FGC, but FGC was, and is, still halted. I believe that the market would have responded favourably to this news.
Toronto, Ontario – TheNewswire - May 12, 2022 – Frontline Gold Corporation (TSXV:FGC) (“Frontline” or the “Company”)announced today that it has entered into an agreement to settle $260,553.87 of debt owed to Merrex Gold Inc., a 100% subsidiary of IAMGOLD Corporation, in consideration for the issuance of 4,000,000 common shares of the Company at a deemed price of $0.0651384675 per share.
"...at a deemed price of $0.0651384675 per share." This is encouraging. Hopefully, WH can pull a rabbit out of his hat to move FGC to this price and beyond, once this stock resumes trading again.
GLTA