The drilling company has accepted 3,150,277 shares in lieu of cash. Thats a good thing if done at fair market price as it helps to preserve our cash and shows confidence in what the driller is turning up. Not ideal if they dump them on the market straight away though, which hopefully they will not do.
There were also 442,512 shares valued at $40,000 issued for purchase of property, but no further details released to tell was this deal was all about.
Is anyone able to shine some light on it.
Ann: Application for quotation of securities - GBR, page-2
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