Each one in plain English, with the numbers worked through for a shareholder.
15 Mar 2019capital raising announcement● Neutral
On March 1, 2019 Fortem signed an investor relations agreement with Paradox Public Relations Inc.: CDN$5,000 for the first two months, then CDN$500 a month, plus 300,000 options at CDN$3.05 for 24 months, vesting quarterly over 12 months. It is subject to TSX Venture Exchange approval, and the options will be granted only after that approval. The CDN$3.05 exercise price is above the US$2.00 used in recent share sales (comparison is an inference as currencies differ).
On November 5, 2018 Fortem issued 300,000 shares to Robert Da Cunha, its Chief Financial Officer, on exercise of options at US$0.10, raising US$30,000. This confirms Da Cunha's role as CFO, which was unconfirmed before.
On October 16, 2018 Fortem issued 1,000,000 shares at a deemed US$2.00 to Grassy Butte, LLC as the second tranche of 4,000,000 shares for the Colony Energy purchase (the 16.7% membership interest). This is one of the deferred Godin share payments already owed, so it adds shares without bringing in cash.
On July 26, 2018 Fortem issued 1,000,000 shares to a warrant holder who exercised 1,000,000 warrants dated March 8, 2016, for gross proceeds of $400,000. This brings in cash and uses up the 1,000,000 warrants at US$0.40 that expired March 2019 in the company's structure (inference on the match).
What it means for a shareholder
1.0m new shares at about $0.400 to raise about $400,000. That's 0.832% dilution: every existing holder's slice gets 0.832% smaller. If you held $1,000 of shares (2,500 at the issue price), your slice goes from 0.0021% to 0.00208% of the company. To keep it you'd need 21 more shares - about $8 at the issue price.
18 July 2018capital raising announcement▲ GoodMajor
On July 18, 2018 Fortem sold 600,000 shares at US$2.00 for gross proceeds of US$1,200,000 to one non-U.S. investor, in connection with the financing condition required by the TSX Venture Exchange for listing its shares. This is the largest cash raise in the filings so far and moves the listing plan forward, though the filing does not say the listing is approved.
What it means for a shareholder
600,000 new shares at US$2.00 to raise about US$1.2m. That's 0.501% dilution: every existing holder's slice gets 0.501% smaller. If you held US$1,000 of shares (500 at the issue price), your slice goes from 0.00042% to 0.000417% of the company. To keep it you'd need 3 more shares - about US$6 at the issue price.
On March 26, 2018 Fortem sold 25,000 shares at US$2.00 for gross proceeds of US$50,000 to one non-U.S. investor. This is a small cash raise at the same US$2.00 price used in earlier deals.
What it means for a shareholder
25,000 new shares at US$2.00 to raise about US$50,000. That's 0.0212% dilution: every existing holder's slice gets 0.0212% smaller. If you held US$1,000 of shares (500 at the issue price), your slice goes from 0.000424% to 0.000424% of the company. To keep it you'd need 0 more shares - about US$0 at the issue price.
On December 15, 2017 Fortem issued 800,000 shares to one U.S. person who exercised 800,000 warrants dated February 16, 2017. The filing gives no exercise price or proceeds, so the cash raised is not stated; this matches the 800,000 warrants at US$0.60 listed in the company's warrant structure (inference on the price link).
On December 19, 2017 Fortem issued 7,760 shares at a deemed US$2.00 to settle C$20,000 of cash obligations under a debt settlement agreement with LPD Ltd. This is a very small share-for-debt settlement.
On December 11, 2017 Fortem issued 400,000 shares to a finder as payment of a finder's fee under an agreement of the same date. The filing gives no dollar value and does not say what the fee relates to.
On November 2, 2017 Fortem issued 30,000 shares at a deemed US$2.00 to settle US$60,000 of cash obligations from the Godin Property acquisition in Alberta, under a debt settlement agreement with Grassy Butte Energy, Ltd. This pays part of what it owed from the April 2017 Colony deal in shares rather than cash.
On September 26, 2017 Fortem sold 250,000 shares at US$2.00 for US$500,000 to one non-U.S. investor. This is the first cash raise in the filings seen since the April 2017 share sales, and the US$2.00 price matches the deemed price used in the May 2017 City of Gold deal.
What it means for a shareholder
250,000 new shares at US$2.00 to raise about US$500,000. That's 0.215% dilution: every existing holder's slice gets 0.215% smaller. If you held US$1,000 of shares (500 at the issue price), your slice goes from 0.000431% to 0.000431% of the company. To keep it you'd need 1 more shares - about US$2 at the issue price.
On March 31 and April 3, 2017 Fortem sold 657,142 shares at US$0.70 for about US$460,000 to three non-U.S. and three U.S. persons. The price is higher than the US$0.50 of a few days earlier.
What it means for a shareholder
657,142 new shares at US$0.700 to raise about US$460,000. That's 1.7% dilution: every existing holder's slice gets 1.7% smaller. If you held US$1,000 of shares (1,429 at the issue price), your slice goes from 0.00381% to 0.00374% of the company. To keep it you'd need 25 more shares - about US$18 at the issue price.
On March 28, 2017 the company, now filing as Fortem Resources Inc., sold 1,120,000 shares at US$0.50 for US$560,000 to two non-U.S. persons and one U.S. person. The filing uses the Fortem name, a change from Strongbow Resources (the filing does not explain the rename).
What it means for a shareholder
1.1m new shares at US$0.500 to raise about US$560,000. That's 2.9% dilution: every existing holder's slice gets 2.9% smaller. If you held US$1,000 of shares (2,000 at the issue price), your slice goes from 0.00533% to 0.00517% of the company. To keep it you'd need 60 more shares - about US$30 at the issue price.
On March 10, 2017 the company sold 200,000 shares at US$0.50 for US$100,000 to one non-U.S. investor. The price is double the US$0.25 used in February 2017.
What it means for a shareholder
200,000 new shares at US$0.500 to raise about US$100,000. That's 0.53% dilution: every existing holder's slice gets 0.53% smaller. If you held US$1,000 of shares (2,000 at the issue price), your slice goes from 0.00533% to 0.0053% of the company. To keep it you'd need 11 more shares - about US$6 at the issue price.
On February 16, 2017 the company sold 800,000 units at US$0.25 for US$200,000, each with a warrant to buy a share at US$0.60 until February 16, 2019, to one U.S. investor.
What it means for a shareholder
800,000 new shares at US$0.250 to raise about US$200,000. That's 2.5% dilution: every existing holder's slice gets 2.5% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.0126% to 0.0123% of the company. To keep it you'd need 101 more shares - about US$25 at the issue price.
On February 6 and 10, 2017 the company sold 1,310,000 shares at US$0.25 for US$327,500 to three non-U.S. persons and two U.S. persons.
What it means for a shareholder
1.3m new shares at US$0.250 to raise about US$327,500. That's 4.0% dilution: every existing holder's slice gets 4.0% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.0126% to 0.0121% of the company. To keep it you'd need 165 more shares - about US$41 at the issue price.
3 Feb 2017capital raising announcement● NeutralMajor
The company settled US$496,180 of debt with three creditors on January 13, 2017 by issuing 1,984,720 shares at US$0.25, and US$59,142.91 with one more creditor on January 30 by issuing 236,571 shares. One settlement was with Precision Asset Consulting Executives Inc., a related party because director Michael Caetano is a director and shareholder of it. About 2.2 million new shares replace the debt.
On January 30, 2017 the company sold 400,000 shares at US$0.25 for US$100,000 to one non-U.S. person and two U.S. persons.
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 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.
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.
