Bullboard - Stock Discussion Forum Colabor Group Inc COLFF

Primary Symbol: T.GCL

Colabor Group Inc. is a Canada-based distributor and wholesaler of food and related products serving the hotel, restaurant and institutional markets (HRI) in Quebec and in the Atlantic provinces, as well as the retail market. The Company offers specialty food products such as meat, fish and seafood, as well as food and related products through its Broadline activities. Its product categories... see more

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TSX:GCL - Post Discussion

Colabor Group Inc > Committed!

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Post by DanielDarden123 on May 04, 2021 2:01pm

Committed!

On March 17, 2021, 267,600 common shares were issued pursuant to the terms of the convertible debentures which gave the holders the right to convert, prior to the announced redemption date of March 23, 2021, their convertible debentures at a conversion price of $2.50 per share, for an aggregate amount of $669.

My Take: I have never seen anybody pay a 100%+ premium to maintain ownership in an issuer. A minimum ownership requirement might be the reason but shares were available at less than half the conversion price.

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Comment by DanielDarden123 on May 19, 2021 1:28pm

Filings show that Bristol was the party that paid the price to convert the debs. By raising his ACB he will enhance any capital losses and reduce any capital gains subsequent to the conversion. Could the recent sales be actual corrections with the wrong date?

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Colabor Group Inc