Bullboard - Stock Discussion Forum Gear Energy Ltd T.GXE

Alternate Symbol(s): GENGF

Energy Oil & Gas E&P

Gear Energy Ltd. is an oil-focused exploration and production company. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its operations are located in three core areas: Lloydminster Heavy Oil, Central Alberta Light/Medium Oil and Southeast Saskatchewan. The Company is also engaged in focused on improving oil... see more

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TSX:GXE - Post Discussion

Gear Energy Ltd > GXE ix now trading below $0.50

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Post by houbahop on Dec 10, 2024 3:41pm

GXE ix now trading below $0.50

Mr. Market knows shareholders of NewCo are getting scammed by GXE Board of Directors,
specifically:

Greg Bay, Governance and compensation committee chair. Gear Energy

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Comment by houbahop on Dec 10, 2024 4:10pm

At current price of $0.495/GXE shares, it values Newco shares at $1.26. 10 000 shares of GXE gives: $3035 of cash (50% of $0.607) and 1518 shares of Newco. These 10 000 shares bought at $0.495/share for total consideration of $4950. $4950 - $3035 = $1915 for 1518 shares of Newco or $1.26 / Newco share. A similar scenario can be made for GXE at $0.40: $4000 - $3035 = $965 or $0.63 / Newco ...more

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Gear Energy Ltd