RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Today's Gensource Tweethowie65, their consolidation reasoning was very simple.
Gsp currently has 420ish million shares outstanding which is considered high by most who follow junior mining hopefulls.
Add to that the $11.5 million Innovare common share deal reported to close at by the end of Q2
"The closing of the transaction values Innovare at approximately US$11.5 million, which represents the current value of existing licensing agreements between the Company and Innovare. The Agreement remains subject to satisfaction of certain conditions precedent, including the approval of the TSX Venture Exchange, and is anticipated to close in Q2 2022.
The new Common Shares, to be issued upon close, will be issued at a price equal to the price of the Common Shares issued during the next qualifying equity fundraising of the Company, and will be subject to certain tranched disposal restrictions until the Company reaches first production. The former owners of Innovare include the corporate vehicles of the three principals, being Artisan Consulting Services Ltd, McEwan Consulting Chemical Engineering, Inc. and Ristra Consulting Inc."
Gsp could potentially have close to a half billion .20 cent shares outstanding while still searching for an equity partner to fund their first mine.