Great Lakes Graphite Inc GLKIF

Halt

[iamburt2]

Does anyone have the real reason this stock is on such a long halt.

[Luckierjack]

It is really quite simple. The halt was lifted by the OSC the day after the financial statements and MD&A were published. The problem now is the TSXV. The TSXV requires, before relisting, for the company to prove that they have a viable business going forward and funds to operate for 12 months. I know that they raised $560,000, but with debt nearing $7.5 million, that is a tough thing to prove

[supra48]

Well if you are following the hourly tweets from Novocarbon all is positive but when no one knows when and if we will trade again it paints a different picture. Hard to have funds tied up here but really nothing can be done except wait.

[iamburt2]

Are these stocks not still trading on the U.S market??

[Luckierjack]

It actually trades quite well in the US market. It has traded about 2.9 million shares since March 8, 2019, about the time of the halt in Canada. Perhaps management doesn't care about the TSXV trading. I am not sure how many ties they have to Canada with Lochabar and Matheson gone. Clearly their customers are not Canadian. Mostly USA.

[WidowAndOrphan]

I am glad that you brought this up. I am on the US side and feel bad for my Canadian counterparts on this thread experiencing the halt, but have been able to freely trade. Volumes have been very steady on the GLK.IF side with huge spikes occurring directly after the halt was announced. There are absolutely some pressure sharks in the water with very frequent small volume dumps occurring at end of

[iamburt2]

I believe the shares of GLK belong to the  shareholders of the company.  They are not Canadian or American, the markets are just the people that are authorized to sell them.  If one exchange decides to halt or suspend them they are still tradeable by other authorized exchanges.  Am I wrong here??