Mason Resources Inc V.LLG

Black Swan Graphene

[goodbuddy]

Black Swan completed a private placement on November 8, 2021 for 2,205,944 common shares at a price of $1.36 per share for a gross aggregate proceeds of $3,000,084. Following the cpmpletion of the private placement Mason's shareholding in Balck Swan Graphene isnow 56% from the 66.67%.
Black Swan is not registered yet on SEDAR, will have to watch for it in the coming days or weeks.

[goodbuddy]

Not bad for there investment returns in Black Swan, 143.25% on there $7,706,200 for 66.67% of the company... It still baffles me why they chose to liquidate funds and reduce there stake in Black Swan when Instriinsic value hasn't  truely  been creatated. Burnn the furniture to heat the house strategy...!

[goodbuddy]

Forgot to add one more statement, Black Swan is valued at $28,117,000 from the sale. Before the sale enterprise value was at $11,558,722

[goodbuddy]

After further reading of the press release back in June 2021. Mason's  obligation in the joint venture was to invest 2.5 million for their 66.67 stake of the company. So, That must be why they had to sell part of their stake in Black Swan Graphene. On the latest balance sheet, Mason has only 14 million in cash, paying this commitment out of cash would of left Mason vulnderable to

[goodbuddy]

After Mason's sale of of Black Swan stake for $3,000,000 their equity atake went from  66.66% to 56% in Black Swan. In the December 6, 2021 Press release from Dragonfly Capital, Black Swan Principle shareholder will have 80.4% of ownership, if Mason's stake in Black Swan is 56% then Mason will own 56% of the 80.4% stake the principle shareholders have which is equivalent to 45..0% of