Bridge Resources Corp V.BUK

Financing

[Kel2]

There had been a very strong rumour of a debenture, as mentioned earlier by another poster, and the stock was trading well in the $1.30's and $1.40's.   Looks much more like an equity financing now.

[SPARTA10]

guys sorry cause i dont know any better, bu if its a euity financing, is this a good thing or bad thing?TIA

[buntu]

This post has been removed in accordance with Community Policy

[nightowl21]

It could also be convertible into shares....which could be a reason for keeping a cap on share priceuntil the financing is closed. Just speculation on my part.

[buntu]

This post has been removed in accordance with Community Policy

[SPARTA10]

perfect!Thanks guys.

[lancer99]

My bet is that Buntu & Kel2 have it right in recent posts. Rumour in industry still abounds that they will announce a $70 million debenture, convertible at $1.85, shortly. They have apparently booked the drilling rig, it is theirs for next drill. Rumour also has it they are looking at an additional line of credit thru Royal Bank of Scotland which tracks with Buntu comments.But my