Post by
singlefile on Aug 15, 2021 8:31am
This is where things get tricky - .046 cent share price
Does Queensbury start dumping ? or do they weather the storm until the nect admin??? They have 70 million shares of SAU .... Singapore--(Newsfile Corp. - March 30, 2021) - St. Augustine Gold and Copper Limited (TSX: SAU) ("St. Augustine" or the "Company") is pleased to announce that it has entered into an agreement with its creditor and major shareholder Queensberry Mining and Development Corp. ("Queensberry"), whereby the Company agreed to convert approximately CAD$3,232,167.25 of the amount owing to Queensberry into 70,176,859 common shares of the Company ("Common Shares") at a deemed price of CAD$0.046057 per Common Share (the "Debt Conversion"). Following completion of the Debt Conversion, Queensberry will hold 288,676,859 Common Shares, representing approximately 36% of the issued and outstanding Common Shares.
Comment by
singlefile on Aug 15, 2021 8:37am
Queensbury owns 36% % of SAU - so they have probably averaged in a lot lower (bought shares cheaper prior) - say 2-3 cent average price perhaps ? - so maybe thay can ride this out ?? I have decided to come back in at their level 2-3 cents ... all IMO of course ..not trying to dictate or predict your fututure here ...
Comment by
RealityCheck123 on Aug 15, 2021 1:46pm
-Queenbury-M.V., CEO - 288,676,859 -SAU-M.V., CEO - 288,676,859 -Three other "insiders" - 13,030,000 Total - 590,383,718 https://stockhouse.com/companies/insiders?symbol=t.sau There a total of 796,940,000 million shares, 590,383,718 held by five "insiders" leaving 206,556,282 available. ???