That Last Desperate Move= ATM Equity Financing InitiativeNobody and nobody's cousins wants to send their hard earned monies off to die a slow death here with Northern Graphite Corporation. We should know. After all, it's what we all did.
A predatory equity offering underwriter, e.g. Eight Capital, would natuarally require that any determined NGC equity offering share price would need to be discounted to the prevailing closing share price, the day such an equity offering announcement is publicly disseminated.
That discount guarantees the underwriter and/or some previously positioned "business friends" and their fully serviced clients would be in part rewarded and compensated with "a fixed" NGC.V selling short opportunity.
We note The Government of Quebec representative simply ensured that some money, $400,000.00 worth, would be tossed NGC's way, this after Hugues Jacquemin likely begged for it. The market told Hugues Jacquemin et al to flock of seagulls when the $400,000.00 grant was announced and the share price was further annihilated as a result.
"Sprott", an NGC stakeholder and NGC primary creditor is likely waiting to have NGC walked right into CCAA procedings by Hugues Jacquemin, Greggory Bowes et al.
"Sprott" likely already has a buyer lined up and requires a CCAA proceding to provide the legal cover in approving the sale, for one whole dollar perhaps, of materially all the assets of the company to such a "Sprott" lined up purchaser.
In hindsight, we can clearly see that "The fix" was in from the very beginning people.