Post by
deepoil0808 on Aug 12, 2022 9:54am
Cantone PP is very BULLISH NEWS as he puts more $$$ in PQE
The PP was first announced on June 2, 2022 and it normally takes 30 days to close a PP.
PQE has delayed the closing of the PP to the end of August 2022 with Cantone.
The bullish news is that Cantone is still willing to load up on PQE at the equivalent of 27 cents per share. It means that he expects approval, otherwise he would not throw his money away.
PQE has delayed the PP out of courtesy for Viston in not wanting to dilute the shares HOWEVER, they are playing hardball in sending a message to Viston to CLOSE THE DEAL soon if they want to save some money on the PP and, also a message that PQE will remain solvable in growing its business should VISTON deal closing of the deal further.
It strenghtens the bargaining hand of PQE.
What would be ideal would be for PQE to sign up a few more license deals with third parties in the form was was done with NETOIL.
Perhaps PQE is in discussions with NETOIL whom has the funds to make a competing bid.
You never know,
My personal opinion,