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I’ve looked and confirm that was a trade on the OTC Pink Market in the US. Arne Gulstene P: 604-602-6970 | M: 604-585-0991
Thanks xxxxxx I have copied Arne Gulstene with this note as he may be able to offer more insight but based on my review it looks like that’s a website that follows the PINK sheets in the US. Is Edge listed/quoted in the US? Our notices affect trading on the NEX board but if the Company is listed/quoted in a jurisdiction beyond our control then you should contact that market to request a halt if that is what you prefer/require. Regards, Andy
Hi Smidsey, thanks for the posts. Good to see we have a listing and the considation went ahead. Keep us posted if you hear anything. I have written this off but it would be nice if we get somthing back.
I have sent an email to Andrew Creech at NEX asking him for any comments regarding your findings. I wonder what he will say?
Your web site address for morning star. http://www.morningstar.com/stocks/pinx/edgxf/quote.html
Well done for finding the info in morning Star I shall be looking closer a little later and I suggest that another email to Andy Creech may turn something up. The reply below is to an email I sent to Andy Creech at NEX. Thanks for the note. I’ve pasted in our most recent notice issued for Edge – please note the symbol has changed from EDE to EDE.H (all NEX issuers have the “.H” extension to indicate its listed on NEX): EDGE RESOURCES INC. ("EDE.H") [formerly Edge Resources Inc. ("EDE")] BULLETIN TYPE: Transfer and New Addition to NEX, Symbol Change, Suspend BULLETIN DATE: April 27, 2016 TSX Venture Tier 2 Company Further to the TSX Venture Exchange ('TSXV') Bulletin dated April 18, 2016 and the Company's press release dated April 26, 2016, effective at the opening April 28, 2016, trading in the shares of the Company will be suspended for failure to maintain Exchange requirements. In accordance with TSX Venture Policy 2.5, the Company has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective April 28, 2016, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Calgary to NEX. As of April 28, 2016, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies. The trading symbol for the Company will change from EDE to EDE.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market. Members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice. I have also pasted two links below for you to link to NEX and the Company’s summary info page (check out he navigation drop down box on the top right section). http://apps.tmx.com/en/nex/ http://apps.tmx.com/TSXVenture/TSXVentureHttpController?GetPage=CompanySummary&PO_ID=18032 Regards, Andy
Hi Smidsy, Found an anomaly regarding the suspended EDG. Follow these steps; Select Morningstar, scroll down and select United States as overseas market. Select EDGXF as stock code. Be surprised to see that EDGXF increased on the 11th May 2016 from zero to 0.07. Await with interest your comments on this research
Check out my post on MAGP
Alberta going up in smoke
www.bloomberg.com/research/stocks/people/person.asp? Personld=2775054&privcapld=3155716 Executive profile* Bradley Clifford nichol P.ENG.MBA chief executive officer, president, Director and member of Technical Committee, Edge resources inc Age 43 Total calculated compensation C $179, ,250 as of fiscal year 2015 This person is connected to 9 board members in 4 different organisations across 5 different industries
There does seem to be a lot of unanswered questions it also seems a tad strange to run two separate oil junior companies operating in the same area of the country as confounded says the likely hood of retrieving anything are slim I've been reading some articles by Tracy Johnson of CBC News in January of this year the number of abandoned wells Rose over the past twelve months prior from 162 to 700 the number of companies going to the wall has rocketed the banks demand for repayment of depts in places like Alberta having a crippling affect the market are awash with liquidated assets I wonder how many other investors were aware brad was on the board of a second oil company and are there more I will try see if I can find any more in the meantime have a safe trip
Brad had his salary paid into a holding company he ran. Did any other directors have their salaries paid into this or any other company? Who are the shareholders in the companies that we will turn up? what's happened to the major shareholders of Edge? did they get a nudge to sell? what's happening to the equipment in Alberta, maybe an email to the Receiver will give up some information? A look at the Accounts of Edge and others may turn something up. As Confounded says there may be nothing we can do to recover any of our losses but if there is any skull-duggery going on and we find it it will help to stop this happening again. If we can show that everything, as far as we can tell, is above board then we have only ourselves to blame for investing in a carp company. I am retired and have a little spare time on my hands (who says that when one retires you have nothing to do I have less spare time now than when I was working) and will see what I can dig up. I'm back on Friday evening.
Tried looking for news articles in local Saskatchewan newspaper's came up empty
Good find smidsy i see what you mean the similarities are very interesting I went on Google maps it would take you 13 mim's to walk from one head office to the other aroway last news release even states there intrested in picking up other oil producing properties
Hi Smidsy, I have been taken for the early 5 figures, I have a feeling, as I always dreaded, that Brad was a bul**** merchant. I liked the assets but his inactivity bothered me. The wells were cheap to drill, why did we not drill more, we could have more than tripled our production for far less than the debt that has undone us, higher production would make the fairly modest debt a lot more affordable. Unfortunately many of the AIM companies I have invest in seem to be run by people who deliberately run them into to the ground. There is virtually nothing you can do to recover your loses even if the regulators have failed to do their jobs. Digging too deeply into this mess will only make you feel more pain, as equity holders we are at the back of th que and someone else will enjoy our spoils.
I am going away for a week and will be back on Monday 9th. May
For those who are interested. Check out the Director list with Edge and you will see that most of them are directors of Aroway Energy Inc. This company is an E & P company in the oil and gas industry doing work similar to Edge. Check out this company and you will see that its shares was suspended on TSX and put on NEX. This company was also short of money and was successful in obtaining more finance last year. Although Aroway was late in its Annual Accounts Return From memory the firm of Accountants to Edge was the same as to Aroway but the accountants left both companies. I have only spent a short time digging back to reveal this information but there are a lot of reports on SEDAR under Aroway (ARW) My immediate impression from what little I have read leaves me to question how both companies have been run. Most of the directors have places on Boards with other companies and I intend to check out this information to see what I can find. If there is the slightest chance that any misuse of company funds, equipment or employees however slight then I will attempt to inform the appropriate authorities of my findings. If anyone feels that they would like to join me in an initial research to see if anything has been done underhand please let me know.
EDE.H (Edge Resources) now transferred to the NEX exchange, effective 28th April. To be found on the NEX platform as a 'new addition' Trading Status-----Suspended (not likely to change this description for a long time-IF EVER) Pint-mug running on fumes for now,-ever hopeful of a positive resolution!! GL all
Must admit I've been lucky so far this is the first of mine to go to the wall bound to happen sooner or later the rest not doing great though I hope you fair better with any others you're in oils slowly recovering long way to go yet though
The Receiver needs to keep pumping oil to keep a value on the stock and therefore will need a skeleton staff to run the company. As I've mentioned in an earlier post my guess is that he will try to sell it as a job lot. A couple of years ago Brad conducted a session of 3D Seismic Testing and established that he was sat on a huge amount of oil, but we all know that the value of oil is nil as long as it stays in the ground. He has recently obtained a water disposal unit that was a cost saver on waste water. The company could be an attractive proposition for someone especially with the oil prices recovering. But Receivers are notorious for dragging their feet, and no doubt they are the same in Canada, don't expect any answers soon.
Wow doesn't sound like there's much chance of brad salvaging anything I wasn't sure but the news release talks of only the Saskatchewan assets only and the shutting in of the Alberta assets which I thought was for safety reasons /no staff left to maintain it etc
The Official Receiver has taken over the lot.
If all the directors have resigned who has control of what's left of the company
Well with this and afren, not a very good last twelve months for my portfolio, the rest of my aim shares also look bleak!
Eye hill is what we invested for and why they are putting us into administration so they can get it. However in some ways the massive dilution we faced in the previous deal now could leave us with a cleaned up company and some assets worth at least what our holding would have been worth if we had gone forward with the proposed deal. Not that I am getting ahead of myself but maybe in a few years time and the next oil boom maybe we get somthing back?