Lind Partners Scumbags!!Financing from Lind Partners rarely ends up well for anyone but Lind Partners.
It is my belief and my opinion only, that the outfit that is trading via Instinet Canada is Lind Partners (
https://www.thelindpartners.com/). Any Canadian company that has recently received funding from Lind Partners shows the same pattern of algorithmic trades via Instinet Canada that erode the stock price, presumably so that Lind Partners can receive more shares when converting the "convertible security" to shares.
Avalon enters $11 million funding agreement for lithium processing facility - March 18, 2024
https://money.tmx.com/quote/AVL/trade-history
Fortune Minerals Enters Into Convertible Securities Funding Agreement for up to C$10 Million With Lind Partners - May 22, 2024
https://money.tmx.com/quote/FT/trade-history
We have a special meeting coming up and we have not been told yet what it's about but I expect we'll be asked to vote on something similar to this:
"...
There are two important proposals to be voted on at this Special Meeting and we respectfully ask for your approval on both proposals. The first proposal is to increase the number of shares we may issue to Lind Partners under our convertible note in accordance with Nasdaq Listing Rule 5635(d). The approval of this proposal would provide us with the flexibility to satisfy payments of principal and interest on this outstanding debt, when due, with either shares of stock or with cash. The second proposal is to approve an amendment to our Amended and Restated Articles of Incorporation, as amended, to increase the number of our authorized shares of common stock to a total of 400,000,000 shares. Due to the reverse split and financing, it is necessary to request an increase of our authorized share count in order to allow the company the necessary flexibility needed by all public companies to have authorized shares available for general corporate needs, including financings, equity compensation, general corporate transactions and other potential strategic transactions. This vote is solely for approval of an increase in the authorized share count and does not mean that the full number of additional authorized shares will be issued."
Am I completely wrong to assume that such activities are illegal? How many Canadian investors need to lose money before the regulators take action?