Regenx Tech Corp. C.RGX

Rights

[bailey2]

Mineworx Technologies Ltd (2)
Symbol	MWX
Shares Issued	347,178,581
Close 2022-09-01	C$ 0.025
Recent Sedar Documents   View Original Document

 

Mineworx Technologies warrants to expire Sept. 12

 

2022-09-01 17:59 ET - Rights Expire

 

Effective at the opening on Sept. 8, 2022, the rights of the company will trade for cash. The rights will expire on Sept. 12, 2022, and will therefore be halted at 12 p.m. ET and delisted at the close of business on Sept. 12, 2022.

Trade dates:

 

• Sept. 8, 2022, to settle Sept. 9, 2022; 
• Sept. 9, 2022, to settle Sept. 12, 2022; 
• Sept. 12, 2022, to settle Sept. 12, 2022.

 

The above is in compliance with trading Rule C.2.18, expiry date. Trading in the rights shall be for cash for the two trading days preceding the expiry date and also on the expiry date. On the expiry date, trading shall cease at 12 p.m. ET and no transactions shall take place thereafter except with permission of the exchange.

© 2022 Canjex Publishing Ltd. All rights reserved.

[eunice12]

No one knows what that means. It was written by some jerk lawyer who loves it when no one can figure out what "trading for cash" means. Rule C.2.18 was written by the same person because it doesn't explain anything either, unless you're a securities lawyer or maybe a full service broker. My discount broker who is a registered trader didn't understand it.

[Atechnician]

Received 91% of over-subscription shares I've requested in my I trade account today. Is it more or less than everyone else's? AT.

[PinkCow]

I got 90.7% so the same. And it'll either be worth something or go to zero.

[eunice12]

The formula is based solely on the amount of rights you own. 65.4% of your rights is the max that anyone could get.

[PinkCow]

Isn't it based on i) the proportion of rights you exercise and ii) the proportion of rights you requested out of those rights that were not exercised? the press release said about 118M were not exercised by those they were given to so those were up for grabs.and the rights I received, which are 91% of what I asked for, represent 9 times what I had. But at 3 cents a share I figured it was

[eunice12]

Umm, you have to exercise all of your rights to oversubscribe, so any oversubccriber's proportion has to be 100%.

[PinkCow]

Right you are! I only claim to be a little bit smarter than your rancher pal. But I did receive 907% of my original rights allocation as my over subscription (and I asked for 1000%)  which is a smidge above the 65% you said was the most that one could receive.  So I don't really know how the over subscription works, but clearly lots of rights were available to those who wanted them

[eunice12]

I have no idea what that second line of yours means, but assume the part about smidge matches the formula I listed. The formula is in sedar clause 2 around page 11.

[BrandNewGuy]

Additional rights are calculated by taking all requests for additional rights / total additional shares available (# of shares less Numbers of hares excercised). It isnt that simple however.  So if there are 9,000,000 additional rights available and 10,000,000 are requested then people get 91% of what they requested.  This is supposed to go further and should also be compared to the

[PinkCow]

Thanks. I read the same thing after Eunice kindly pointed out my stupidity and directed me to the formula. It says you get the lesser of: 1. the number of shares you oversubcribed for; or 2. (Common shares available for oversubscription) * (rights you exercised/total rights exercisded by everone who oversubscribed) I tried to reverse engineer the denominator but probably messed up somewhere as

[eunice12]

Pink Did you have a much smaller amount of rights in the 9 times account than in the other one? If so then your brokerage weight averaged your accounts to allocate your overall 65%. They internally took your 65% total allocation from Computershare and did their own allocation amongst the accounts which nothing in the contract prohibits them from doing.

[Atechnician]

I Trade:    91% BMO:     100% Go figure??? AT.

[PinkCow]

No. 2/3 of my existing position was in the account that I over subscribed.