Why push the news before any action knowing full well that the price will rise? Nobody does that.
There was no formal offer and in fact the regulators seeing the Vertex debt shuffled to Titan reversed their approval for the terms of the loan. So Titan no longer has that debt in the form they planned for and any shares they thought they had scooped up are gone.
"
The amendments proposed would extend the maturity date of the Promissory Notes from March 31, 2019 to March 31, 2021 and the maturity date of the Convertible Notes from March 31, 2019 to March 31, 2020, and would reduce the conversion price of the Convertible Notes from CAD$0.30 per share to CAD$0.18 per common share. Finally, the amendments would remove certain restrictions on the transfer of the Promissory Notes. All of the amendments are subject to the approval of the TSX Venture Exchange ("TSXV"), if and as necessary. However, TSXV approval is required to amend the terms of the Convertible Notes. The TSXV initially approved the amendments to the Convertible Notes but rescinded its approval following notification received on September 13, 2019 that the Convertible Notes had previously been transferred. Titan Minerals provided to Core Gold on September 13, 2019 notice that the Vertex Debt had been assigned to Titan Minerals effective August 21, 2019. Accordingly, the Promissory Notes and Convertible Notes have not been amended as described above, and the Convertible Notes are not currently convertible into Core Gold common shares. While Titan Minerals has purchased both sets of notes, they have been purchased in their unamended form. Core Gold intends to make a new application for review and approval of the TSXV to the amendments."
So much for counting their chickens and of course the regulators are not going to stop there the BOD4 were already given a warning.
Additionally the market was further informed that all interested parties in Core need to formalize by mid October:
"A number of interested parties have signed confidentiality agreements and are conducting due diligence with respect to Core Gold. The Company has requested that parties formally express their interest in a transaction by not later than mid-October 2019"
These parties are bringing real cash to the table and not paper confetti.
I wish Titan shareholders well but the record speaks for itself: continuing dilution with shareholders holding thousands of dollar now with just coffee money.
Carr and buddies pay themselves nicely while poor shareholders keep getting skimmed. The price of 19-20c currently is a chance to get some money back. After being propped by this artificial news it will sink back below 15c.