29 Sept 2011capital raising announcement● Neutral
Issued about 452,000 shares to a consultant for investor-relations and publicity work during 2011.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 May 2011capital raising announcement▼ Bad
Cut the share compensation owed to CEO and chairman Hugh Aird and consultants Judith Baker and Stephen Cook from 2,000,000 to 1,475,000 shares each, giving the reason as the company's authorised capital restrictions rather than any change in pay policy, and issued each of them the remaining 875,000 shares the same day.
14 Apr 2011capital raising announcement● NeutralMajor
Took on a further $350,000-plus-$150,000 secured convertible note from the same 2245393 Ontario investor, conditioned on raising at least $100,000 more elsewhere and filing an NI 43-101 report by July 2011, and amended the terms of the 2010 note from the same lender.
1 Apr 2011capital raising announcement● Neutral
Issued 6 million shares (2 million each) to CEO Hugh Aird and consultants Judith Baker and Steven Cook as payment for a year of management consulting services.
18 Mar 2010capital raising announcement● Neutral
Granted CEO Hugh Aird options on 325,000 shares at $0.85.
What it means for a shareholder
325,000 new shares at US$0.850 to raise about US$276,250. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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7 Oct 2009capital raising announcement▲ Good
Raised $999,999 in a private placement (740,740 units at $1.35) with three non-US investors, funding the new lithium exploration program.
What it means for a shareholder
740,740 new shares at US$1.35 to raise about US$999,999. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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20 June 2008capital raising announcement● Neutral
As Nugget Resources Inc., sold 1.5 million shares to its president Matthew Markin for $1,500, a token amount for working capital before the company's later lithium pivot.