It is possible that they're planning to raise capital by means of an issue to shareholders. For example, it could be a 1 for 1 at 20 cents,so the options conversion clause gives option holders a chance to participate.
They don't have a large no. of shares on issue so could easily raise $10 million this way- provided the shareholders liked the proposed drilling program!
new horizon, page-8
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
