Post by
Oregonduck on Jun 26, 2023 6:13pm
Running on Fumes ?!!!!
Out of money. Shelf offering at Best Efforts only by underwriters. $5 million raise approx. and not for drilling 3rd well. WTF??
"...The net proceeds from the Offering are expected to be used for site preparation of a future drilling location, wellsite and rig maintenance, in addition to other geologic and subsurface projects, geophysical processing and working capital. The Offering is expected to close on or about July 11, 2023, or such other date as agreed to between the Company and the Underwriters, and is subject to certain closing conditions, including the receipt of all necessary regulatory approvals and the acceptance of the TSX Venture Exchange."