Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Risk of admin is also priced into SP, with the bounce already from low of 1.5p to 2.5p
We’re actually trading on par with US at 0.65p so much of this is factored in to our 2p-2.5p current range
Hopefully sentiment will change now we can put the risk of administration behind us.
Yes I saw the warrants
From this level we are OK, I just feel sorry for those who are here from the 10's 20's and above who will now struggle to get a return.
Either that or insolvency.
Why ever the US holders didn’t vote for the Bioasis deal I don’t know.
But if you read all the RNS......
"The Private Placement will result in significant dilution to existing equity holders in the Company. Upon issue of the Placing Shares and exercise of Pre-Funded Warrants, existing shareholders would be diluted by 70.5%. Based on the Company's current issued share capital, should all existing warrants, share options, A Warrants, B Warrants, Placement Agent Warrants and Investor Warrants also be exercised at their initial exercise prices, existing shareholders would be diluted by a total of 87.8%."
Not good.
maybe that's why the small rise today
Thanks...didn't interpret properly!
0.58c - roughly 1.9p
The net proceeds received from the Private Placement will enable the Company to focus on developing its clinical asset, MTX110, and, alongside cost-cutting initiatives, are expected to provide the Company with sufficient working capital to December 2023. The Company expects to report completion of treatment in the second investigator initiated Phase I study in rare orphan Diffuse Intrinsic Pontine Glioma (DIPG) in Q2 2023. The Company also expects to report initial progression free survival (PFS) clinical data from its Phase I study in recurrent Glioblastoma (GBM) in Q3 2023.
at 48p?.. or am I reading that wrong?
$6m private placing
Seems to be some support both here and across the pond - I can’t imagine Stamp isn’t working on a plan here. If he can pull a rabbit out of the hat with funding this will fly as it is massively undervalued with a £2m MCAP. The MAGIC-G1 phase I clinical study is going well and has increased the number of test patients recently. Within their original pipeline there are many opportunities to attract investment… hopefully not at the behest of LTH’s once more. GLA
It was news of the ‘merger’ that dropped us from 6p to 2.5p - ironically the news that it had been voted against dropped us briefly to 1.5p - securing funding now would see a return to 6p+ in the short term but ultimately we need firm news on the progress of their pipeline. GLA
I would think the value of the company is a lot greater than the current SP and they will possibly find funding at a higher SP , as we are only here due to a bit of scaremongering and leaving it too late on purpose.
They do indeed need to issue a plan B which will give the SP a boost prior to any fund raise
Maybe plan B
I meant that everyone voting 'no' on the merger knew the alternative outcome - cash until March or else. Why would you vote against it unless you knew something better than the merger option was in the pipeline?
Sorry WTF ,CERTAIN liquidation if the vote was to merge ?
I don't fully understand what you have written thers,confused
Problem is less than 2 months before money runs out. Nobody will fund this now (it’s pharma requires big bucks), if they do find a funded they will want significant discount placing way below this SP…as we have seen likes of TWD recently.
Shareholders said no… why would they choose certain liquidation over an opportunity to build… unless directed in some way to do so by information unbeknown to the private investor
I thought the deal sou ded good on the webinar. Sounded promising and thought it would be a turn around. They have products that looked liked they would take off. I topped up recently thinking it was a given. Don't understand. This and DeepMatter stealing money too
Held up in the US - actually finished green out of hours. Clearly the deal with Bioasis not popular there… though I would have preferred that over liquidation. Hopefully we have an 11th hour deal here but surely this would have been forthcoming before approaching Bioasis in the first place. What a mess Stamp. I’m currently over £30k in the hole here
Omg ! Another load of fees for CONsultants. For what highly paid bod should be capable.
Therefore, in light of today's vote at the General Meeting and its financial position, the Company has appointed Quantuma Advisory Limited, a specialist business advisory firm, to undertake contingency planning and provide advice to the Board of Directors on appropriate actions.
That’s two words..
GAME OVER
MTPH - WHAT A CROP OF CRAP
I said this was anpule of ****. So it has proved. Complete and utter lifestyle company.
Midday RNs........ Possible administration .
Looks like I made mistake topping up here .
Armistice Capital LLC Hedge Fund 12/01/2023 2.8993 % of shares 3,141,225 shares held -68.11 %
Lombard Odier Investment Advisor 15/12/2022 2.4728 % of shares 2,679,059 shares held -64.45
Above the third and forth biggest holders and Armistice Capital LLC Hedge Fund are on here as shorting it.