RE:RE:What happened?Canamex wrote: What's up guys PR coming. I'm holding a bundle of these shares
Company did a reverse split on the shares, then they converted and cancelled outstanding debentures reducing their debt. That is what is pushing the price asper the press release yesterday, a portion copied below:
The Company’s Common Shares commenced trading on the TSX Venture Exchange at the open of the market on January 19, 2021. Following the 10 for 1 share consolidation, the total number of issued and outstanding Common Shares is 18,629,912.
On January 20, the Company issued 14,375,000 (post-consolidation) Common Shares at a price of CAD $0.30 per share on conversion of CAD $4,312,500 or 75% of its secured debentures (the "Debt Conversion"). Following the issue of these Common Shares, the issued and outstanding shares available for trading is 33,004,912. Of the Common Shares issued as part of the Debt Conversion, approximately 3,442,500 Common Shares will be issued to Directors and/or Officers of the Company. The Common Shares issued pursuant to the Debt Conversion are subject to a hold period of four months and one day in accordance with applicable securities legislation and the TSXV requirements.