Wolverine Energy and Infrastructure Inc WEIIF

News

[Eyeguy83]

Can anyone breakdown this news for me?

[northxwest]

Well let's see, a money losing company that was not too long ago worth around $20,000,000 is selling some of it's assets to a company with a market cap of $1,900,000 for $150,000,000. According to the buyers, (Blackheath),  latest financials they have zero income & the management has not been paid a wage for quite some time to minmize expenses! Seems pretty fishy to me, not sure

[Wesley23]

Blackheath is only being used as part of the RTO. It's a quick and easy way to get listed. The new company is a green energy company that is buying a green energy company from Wolverine. I don't know if you have been watching green energy companies lately but they are valued more on the future than the present. Wolverine can't benefit from "Green" because they are an oil and

[rdub1557]

a company that makes a $20m profit because the CEO reckons the assets they bought were greatly undervalued and sticks the "gain" in his Income Statement needs a wide berth, buyer beware. Also if you're getting $50m in cash why do you need to issue unsecured debt of $10m at a nosebleed 12.6% interest this month??