re: Ann: Placement of $500,000 / Proceeding w...
I prefer it when companies at least allow your rights to be renouncable, its only fair.
Here I think it is an empty gesture.
Think about it.
The rights issue is 1 for 10.
With the share price below the rights price and assuming the option does not have zero value, what do you think the rights will sell for? My guess, unless they announce something dramatic, is 0.001.
That means for me that to spend just the same as my brokerage, I would need to hold 190,000 TRF (I don't!). Not sure what the minimum trade would be for the rights, but at $500 @ 0.001, that's 500,000 rights or your would need to hold 5,000,000 TRF anybody here hold that?
Oh, and there is an invitation to apply for additional shares?
Why would you buy a right when they are giving it away for free?
EGAD!
This is seeming to be a way to get TRF into someone's hands than a real need to raise money now.
TRF Price at posting:
19.0¢ Sentiment: None Disclosure: Held
