Going to be an interesting listing today. Something I noted reading the prospectus:
The founding shares were issued at $0.0001. The largest shareholder has 2,700,000 of these founding shares, paid $270 for them. At $0.20 they are worth $540,000. Was also issued 750,000 shares for advisory services = $150,000 at $0.20.
The largest shareholder is also the ED of the LM who are getting paid 6% fee, at $7,500,000 raise = $450,000. Also issued 1,000,000 options exercisable at $0.30 with 3-year expiry. And finally, will be receiving an advisory of $3,000 a month for at least 6-months (min $36,000).
LM was also paid 300,000 shares for services related to pre-IPO raise = $60,000 at $0.20. Pre-IPO was done at $0.10, which is reasonable.
I would expect that most of the shares noted above will be escrowed, but none the less, the largest shareholder is doing very very well out of this deal.
One to keep an eye for the next few weeks, will be fascinating with uranium being hot.
T92 Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
