Each one in plain English, with the numbers worked through for a shareholder.
5 Dec 2016capital raising announcement● Neutral
On November 29, 2016 the company sold 400,000 shares at US$0.25 for US$100,000 to one non-U.S. investor. The price is above the US$0.10 unit price used in September 2016.
What it means for a shareholder
400,000 new shares at US$0.250 to raise about US$100,000. That's 1.2% dilution: every existing holder's slice gets 1.2% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.0126% to 0.0124% of the company. To keep it you'd need 50 more shares - about US$13 at the issue price.
On September 22, 2016 the company sold 250,000 units at US$0.10 for US$25,000, each with a warrant to buy a share at US$0.40 until September 22, 2019. A small raise from one accredited U.S. investor.
What it means for a shareholder
250,000 new shares at US$0.100 to raise about US$25,000. That's 0.798% dilution: every existing holder's slice gets 0.798% smaller. If you held US$1,000 of shares (10,000 at the issue price), your slice goes from 0.0322% to 0.0319% of the company. To keep it you'd need 80 more shares - about US$8 at the issue price.
2 June 2016capital raising announcement● NeutralMajor
On May 17, 2016 the company issued a US$200,000 10% secured convertible debenture to one investor, maturing six months after issue and secured against all of the company's property. It converts at US$0.20 per unit (share plus a US$0.40 warrant for two years), and the investor also received 200,000 additional units. This adds secured debt and potential dilution.
On May 5, 2016 the company settled US$123,732.85 of debt with two creditors by issuing 353,521 shares at US$0.35. The debt is replaced by new shares rather than cash.
On March 9, 2016 the company sold 500,000 units at US$0.10 for US$50,000, each with a warrant to buy a share at US$0.40 until March 9, 2019. This was sold to one accredited U.S. investor.
What it means for a shareholder
500,000 new shares at US$0.100 to raise about US$50,000. That's 1.6% dilution: every existing holder's slice gets 1.6% smaller. If you held US$1,000 of shares (10,000 at the issue price), your slice goes from 0.0333% to 0.0328% of the company. To keep it you'd need 167 more shares - about US$17 at the issue price.
On March 8, 2016 the company cut the exercise price of 1,000,000 outstanding warrants from US$1.00 to US$0.40 and extended their expiry to March 8, 2019, with an unnamed third party. This makes the warrants cheaper to exercise and could bring in more shares (likely the 1,000,000 warrants from the September 2014 unit sale, which is an inference).
On November 3, 2015 the company granted 2,600,000 stock options to Michael Caetano (2,000,000), Robert Da Cunha (300,000) and Robert Madzej (300,000), exercisable at US$0.10 for five years and fully vested at grant. If exercised, these would add shares and dilute existing holders.
The company sold 22,222 shares at CDN$0.45 for CDN$10,000 to one non-U.S. investor on August 11, 2015. A very small share sale.
What it means for a shareholder
22,222 new shares at C$0.450 to raise about C$10,000. That's 0.0743% dilution: every existing holder's slice gets 0.0743% smaller. If you held C$1,000 of shares (2,222 at the issue price), your slice goes from 0.00744% to 0.00743% of the company. To keep it you'd need 2 more shares - about C$1 at the issue price.
20 Oct 2014capital raising announcement▲ GoodMajor
The company settled CAD$555,000 of promissory notes (issued to Stockbridge Resources Corp. in June and July 2012 and later assigned to Professional Trading S.A.) by paying CAD$200,000 in cash and issuing 538,461 shares at $0.65. This removes the loan from the company's debts in exchange for cash and new shares.
The company sold units (a share plus a warrant) in two placements: 80,000 units at CDN$0.65 for CDN$52,000 (warrants at CDN$1.50 to August 26, 2016) and 1,000,000 units at US$0.65 for US$650,000 (warrants at US$1.00 to September 3, 2017). The warrants could add more shares if exercised.
What it means for a shareholder
80,000 new shares at C$0.650 to raise about C$52,000. That's 0.281% dilution: every existing holder's slice gets 0.281% smaller. If you held C$1,000 of shares (1,538 at the issue price), your slice goes from 0.00543% to 0.00541% of the company. To keep it you'd need 4 more shares - about C$3 at the issue price.
The company sold 66,666 shares at CDN$0.75 for CDN$50,000 on June 18, 2014, and issued 200,000 shares at a deemed CDN$0.70 on June 24, 2014 to settle CDN$140,000 of debt. Both go to one non-U.S. person each; the debt settlement reduces what the company owes in exchange for new shares.
The company sold 100,000 shares at US$0.50 each for US$50,000 to one non-U.S. investor on April 28, 2014. This is a small share sale that adds shares outstanding.
What it means for a shareholder
100,000 new shares at US$0.500 to raise about US$50,000. That's 0.357% dilution: every existing holder's slice gets 0.357% smaller. If you held US$1,000 of shares (2,000 at the issue price), your slice goes from 0.00717% to 0.00714% of the company. To keep it you'd need 7 more shares - about US$4 at the issue price.
Fortem Resources Inc. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
