RE:RE:RE:RE:RE:RE:RE:RE:DEBTNo lie
so big! The Chief Prevaricator won't try to tell it. I'm more convinced
than ever they're someone who badly wanted in on either:
one of the Private Placements or
the Debenture - maybe both - and
got told
"take a hike" and, as one would expect, they're now
seething with rage, envy, and
Sour Grapes.
No surprise they're now trying
Trick-Spamming, as well, using
a set-up poster as their foil.
I think we should let the pathetic wretch stew in its juices; no one
with two ounces of brains is going to give them any credibility
whatsoever. and anyone who does believe what comes of out their
Swamp Fever Fantasy of Prevarication deserves their hoodwinkery.
Maxmoe wrote:
TheLandedEagles wrote: Further note....if and when a conversion of that debenture should likely take place at that .60 cent....THAT TRANSACTION to acquire the shares in exchange for that debt..would take place NOT in the public market,..but instead with Trillion directly and thru their treasury by issuing further new shares and causing further overall dilution for all shareholders...that would entail a further 25 million new shares added into the outstanding share float of Trillion...Just the facts and truth!!!!
No! Really?? That's how a convertible debenture works??? Thanks captain obvious. Here's some facts about all convertible financings versus straight equity or straight debt. The TCF financing is almost the poster child example. They pay 12% interest, and the conversion price is at a 100% premium to the current stock price. At the time of issue, a more relevant gatepost, the premium was about 60%. Still a huge premium. Shareholders LOVE to see financings done at that size of premium. Based on the drilling success since April, this financing was NOT dilutive. It's also far less dilutive when done at a huge premium to the market. I don't think you even understand how to calculate whether a transaction is dilutive or not. It's not JUST shares outstanding. That's the denominator. Research the numerator on investopedia or investing for middle schoolers, I'm not going to waste my breath and explain it in detail, but generally speaking, The NAV has increased by more than the Meagre $15 million financing done at a HUGE premium. You either have no idea what you are talking about or you are being purposefully disingenuous. Give it up man, you're not fooling anyone here. Compared to straight up debt, with no conversion feature, no way they could raise $15 million at 12% coupon and 25 million 50 cent warrants with a 2 year fuse. And as a bought deal?!? Even better. No expensive global road show required and the cash was in the bank in a matter of weeks. Here below is a few key lines from the April press release that totally disproves your FUD attack. This financing does NOT preclude an equity financing. As EVERYONE who's ever bought a debenture knows, the more equity they raise the better for the debentures. It adds to the security and asset coverage. Naturally, there is a TEST for additional debt financings. Not a preclusion. Not an insurmountable test either. The after tax value of PDP reserves, discounted at 10%, must have increased VERY dramatically since the valuation done by GLJ at January 31st. Hopefully we get an update as at June 30 on the PDP number in the next week or so. Clearly you need to heed your own words, as my pal judge Judy says, the lord gave you 2 ears , but one mouth for a reason. How embarrassing you can't even get your facts straight regarding the 4 month hold. It's crystal clear. The debentures, the warrants, and any shares from the exercise or conversion have a 4 month hold that ends august 20, 2023 being 4 months from the closing of the private placement financing. NOT 4 months from whatever date you just made up. You're wrong, your nemesis, praise Jesus, was correct. Comical. And now you feel qualified to pump your uranium clients? Ummm. Nope.
The debentures include a negative pledge, such that Trillion will not be able to incur new debt in excess of 40 per cent of the after-tax value of PDP reserves, discounted at 10 per cent.
All securities issued are subject to a four month hold period in Canada commencing on the date of closing.
The placement is expected to close on or about April 20, 2023.