Maritime Resources Corp V.MAE

Allen Palmiere owns over 49 m shares

[nozzpack]

https://www.marketscreener.com/quote/stock/MARITIME-RESOURCES-CORP-49478491/company/

[baystock1]

those 49 million shares are worth US$1.65 million which is a substantial amount to invest in a 4 cent penny stock. Any idea when/why this position was accumulated and what his cost basis is ? Did he buy them from Goro canada ?        

[shiftyone]

According to Sedi, he has direction or control of 47 million shares which are owned by Gold Resource Canada. There was news back in 2022 that Gold Resource Corp had bought 47 million shares at .05. Coincidentally, the same number of shares.  I suspect Gold Resource Canada must have got them from Gold Resource Corp.  At the time, it was 9.9% of the float, so under 10% they were not

[nozzpack]

Palmiere bought 47 m shares at 4 cents as part of the 2023 equity funding...not from GORO https://maritimeresourcescorp.com/maritime-announces-closing-of-the-final-tranche-of-its-non-brokered-private-placement-of-units/

[shiftyone]

"Palmiere bought 47 m shares at 4 cents as part of the 2023 equity funding...not from GORO" --------------------- You need to help me a little more here.  What makes you think that he bought 47 million shares in that placement.  And if he did, why does he not have the warrants that were granted in that placement? Sedi states the transaction where Gold Resource Canada

[nozzpack]

Shifty, only 47 million shares were sold on that date in Nov 2023 and it is on that date that Sedi  reports the acquisition of 47 m shares by Allen. So, the conclusion could not be otherwise but that Allen bought those shares. He May have sold those to Dundee, as Sedi is often late in updating its changes, but as documented right now, he did not. Its not a big fiducial issue, in any event.

[shiftyone]

Nozz,  GORO bought the 47 million shares in the pp that closed Sept.22, 2022.  The price was 0.05 and there were no warrants attached. GORO is Gold Rearch Corp. It trades on the Z exchange. The CEO, President, and Chairman are one and same  board.  Allen Palmiere. Gold Research Canada seems to be a different company.  It might be a subsidiary, it may be totally