RE:Hmm. And I thought fnc was unique A ring of familiarity ? More from same article in northern miner ......
A defensive capital raising is a pre-emptive move
They aren’t illegal in Canada, but companies are supposed to demonstrate they’re in the best interest of shareholders and not merely a tactic to entrench management
John Kaiser, who has published a mining industry newsletter for 30 years, said the Blue Moon dispute lies in a grey area where it’s difficult to determine who’s been wronged. Kaiser blamed the TSXV for weakening transparency rules on private placement details, which often hides who’s buying and how much.
“It is yet another sign of the F-You attitude the establishment has towards the investing public,” Kaiser told The Northern Miner by email. He commented on the company’s latest private placement that raised $924,000 in August by issuing 26.4 million shares at 3.5¢ each.