Reconnaissance Energy (Africa) Ltd V.RECO

My name refers to Aurora Cannabis not Recon

[Lostalotandgone]

A chap on Reddit has suggested that he was given the shares as part of a deal. I am not that up on where to find what. What do you think ? I am all in trying to recoup my Aurora losses. Now holding 62773 Cheers

[Ca01an]

That sounds correct, don't know why people here are suggesting he bought all those shares when he would obviously be given a bunch of shares when joining the company as a director 

[hipfner]

There is a very low probability that the company gave him the shares.  1. It's an odd number. I've never seen a company make an award that wasn't rounded. 2. It wasn't mentioned in the press release. To date, RECO has been very professional and transparent.  3. The majority of insider awards are done with options. We will only know for certain when the company files

[Ca01an]

Okay, you could be correct, I presumed after seeing the large transaction around the the same time he joined the company that they were simply awarded to him for joining the board but I could definitely be wrong

[hipfner]

It's really encouraging to see management, and now this new board member, have oodles of shares. It's pretty rare in this industry. Most insiders live off the thousands of free in-the-money options they get just for breathing, plus outrageous salaries. Add that to their change-of-control bonuses and it's mind-boggling.

[Goaweigh]

We didn't actually see any transaction did we ? He was invited to join the Co. and apparently he owned the stock before he joined. He looks like a Calagary boy to me, in the biz for 20 years, so maybe he's known these guys for years, liked the story and bought into the PP like hundreds of others did. Now that the story is coming together Management have reached out and asked if he'd

[therager]

Yes, 100% agree with hipfner...It is likely he got an option package that vests over a number of years. It is highly unlikely he was given an outright grant of stock.