Past year: ▼ 53%(3.45 – 7.37 USD)
Each one in plain English, with the numbers worked through for a shareholder.
1 Aug 2017capital raising announcement● NeutralMajor
Converted $500,000 more Lind note principal, and closed a brokered private placement via Mackie Research Capital Corporation for C$1.93 million (2,962,500 units at C$0.65, 6.5% commission) -- its first use of an outside placement agent.
7 June 2017capital raising announcement▼ Bad
Converted another $1 million of Lind note principal into shares at falling prices (C$0.599, then C$0.545) as the note continued to be drawn down.
18 May 2017capital raising announcement▲ GoodMajor
Moved beyond non-brokered placements for the first time, entering an underwritten 'bought deal' for 3,077,000 units at C$0.65 (C$2.0 million gross, plus a 15% over-allotment option) -- a more institutional financing channel than its prior private placements and Lind draws.
What it means for a shareholder
3.1m new shares at C$0.650 to raise about C$2.0m. That's 1.5% dilution: every existing holder's slice gets 1.5% smaller. If you held C$1,000 of shares (1,538 at the issue price), your slice goes from 0.000784% to 0.000772% of the company. To keep it you'd need 24 more shares - about C$16 at the issue price.
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5 Apr 2017capital raising announcement▼ Bad
Issued 890,670 warrants to Lind Partners tied to the first tranche increase of its convertible note facility.
6 Mar 2017capital raising announcement▲ GoodMajor
Closed the second and final tranche of the private placement, C$2.45 million more (3,503,989 units at C$0.70) -- bringing the total raise to about C$5.15 million and pushing shares outstanding to 195.4 million.
What it means for a shareholder
3.5m new shares at C$0.700 to raise about C$2.5m. That's 1.8% dilution: every existing holder's slice gets 1.8% smaller. If you held C$1,000 of shares (1,429 at the issue price), your slice goes from 0.000767% to 0.000752% of the company. To keep it you'd need 27 more shares - about C$19 at the issue price.
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21 Feb 2017capital raising announcement▼ BadMajor
Converted $1.025 million more of Lind Partners note principal into shares, and closed the first tranche of the upsized private placement for C$2.7 million (3,860,800 units at C$0.70) -- also disclosing that a new 'Convertible Security Increase' to the Lind facility converts at 85% of the 5-day VWAP, a steep discount.
14 Feb 2017capital raising announcement▲ Good
Upsized the same private placement twice more, to C$4 million then C$4.75 million, as investor demand kept growing.
2 Feb 2017capital raising announcement● Neutral
Announced a C$2 million non-brokered private placement, upsized to C$2.5 million three days later.
17 Nov 2016capital raising announcement▼ BadMajor
Converted $550,000 of principal on its December 2015 Lind Partners convertible note into shares at falling prices (C$0.68 then C$0.61), and separately raised about C$1.96 million from private investors exercising outstanding warrants at C$0.65 -- the first Lind Partners and warrant-exercise activity captured in this company's story.
