It would be mighty strange if CPS Capital, led by managing director Jason Peterson, wasn’t familiar with the Brisbane-based Hatzipapas family, given the wild coincidences on offer. In fact, some may cynically believe CPS Capital has a good reason to snuggle up to Dyamond and GAKS, given the incentives are often neatly aligned.Take, for instance, the ASX-listed pot stock Zelira Therapeutics, where Peterson was a director from 2016 to January this year (he was paid $7000 in capital raising fees in FY21, after CPS Capital led a $4.6 million raising for the company).Curiously, in 2019, GAKS Investment Holdings was issued 2 million options “for investor relations services” to Zelira. The company’s annual report showed that as of August this year, GAKS had 11,429 options left.Or how about Western Australian gold explorer Surefire Resources, where GAKS was the thirteenth-largest shareholder at the end of FY20, with 7.5 million shares and 3.75 million options. CPS Capital, at the same time, held 55 million unquoted Surefire options (the stockbroker underwrote its 2020 capital raising). In 2022, Peterson filed a substantial holder notice showing his 6.16 per cent stake in Surefire.AdvertisementThen there’s ASX-listed copper vehicle Valor Resources, for which CPS Capital raised $800,000 in 2020. Valor’s 2021 annual report showed Peterson held a 5.5 per cent stake in the company, while GAKS held 25 million unlisted options.Oh wait, there’s also Odin Metals, another ASX-listed copper play. Peterson’s initial substantial holder notice in 2020, detailing his 6.4 per cent stake in the company, pairs neatly with Odin Metal’s annual report that year, which noted GAKS held two tranches totalling 2 million unlisted options.Or just take a peek at WA gold and nickel explorer Estrella Resources, for which CPS Capital raised $1 million in August 2020. Celtic Capital, a private funds management company run by Peterson, was listed in its 2021 annual report as the largest shareholder with 18 per cent of shares on issue. Not far behind was GAKS, holding 5.1 million shares, or 2 per cent of the company.Celtic Capital, by the by, was shown to hold the most unlisted options in Wellfully in February this year, or roughly 40 per cent of the issued options, almost three times as many Wellfully options as held by CPS Capital. Still, there was GAKS, retaining 1.5 per cent of the options.Last month, CPS Capital was the lead manager for ASX-listed rare earth operator Voltaic Strategic Resources’ $4.5 million raising. Peterson subsequently popped on the register with 8.9 per cent of shares. Prior to that raising, Celtic Capital held 2 per cent of shares, while Dyamond Trading and Consulting owned 1.2 per cent.Are we missing something?
ZLD Price at posting:
$1.07 Sentiment: Buy Disclosure: Held
