I'm going out on a limb & will speculate that CLZ is undertaking a CR to move her a step closer to production.
Raising a CR to pay off debt seems unlikely to me. IMO CLZ took on debt to save shareholders from dilution. There's no point diluting holders now to pay off debt when they could have just done a CR in the first place.
Also, this is the first time a consolidation has been mentioned, as far as I'm aware. Some companies consolidate shares during production or just before.
Time will tell.
Good luck to all holders.
Classic to raise $m and 150:1 consolidation, page-84
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Mkt cap ! $756K | |||
| Open | High | Low | Value | Volume |
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