GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
Https://www.fasken.com/en/knowledge/doing-business-in-canada/5-acquiring-a-canadian-business This is the article, there are many others on Google.
From Fasken.con found on Google:
'The threshold for triggering Canadian take-over bid rules is the acquisition of 20% of the voting rights of a corporation. As a result, the purchaser may wish to gain an initial position or ``toehold`` in the company prior to announcing the take-over bid. The level of a toehold will depend on strategic considerations and whether the acquioror wishes to disclose its position before making the bid. In Canada, the level at which a holder of public company shares is first required to disclose its position is 10% as opposed to 5% in the US.
If a purchaser acquires 20% or more of the voting rights – whether alone or working in conjunction with other parties (a purchasing group) – the purchaser will be required to offer to purchase the shares of all of the registered shareholders of the same class unless an exemption is available. For example, a private agreement exemption can be a critical tool for those seeking a creeping acquisition, as opposed to an all-or-nothing acquisition.
Under a private agreement exemption, the consideration for the shares cannot exceed 115% of the 20-day trading average of the company, and there can be no more than five parties tendering their shares to the purchaser. In addition, the normal course purchase exemption allows for open-market purchases not exceeding 5% of the company’s shares in a given 12-month period.'
Tiburn......15th November:
'Since the third quarter in 2023, COPL was able to use working capital to increase NGL injection at the BFSU at double the rate compared to recent periods.'
Implying that NGL was being injected?
October 2023
'· The increased equity financing and debt and hedge restructuring provide COPL's group with more than $17 million in investment support from its largest financial stakeholders. This financing package is designed to ensure the Company is fully financed through Q1-2024, at current production levels of approximately 1,200 bbl/d'
What changed? This was not reliant on a JV.
On Friday we were priced to fail. Look at the trades tab on here, word was already out about the forthcoming RNA. Now we are in a position where if we sell the billion barrel discovery for big money we can get rid of the SL and the bonds, and be a profitable oil producer, with funds to make the GGS work and get to much higher production figures. And this could all happen in the next couple of months. What will the sp do on the day we announce a sale? Maybe we will be supended like the Canadians?
Radika........Radika....I bought more at 0.30. I hold 2,700,000, average just under 5p. 2 minutes before close on Friday there were two large buys, 1m and 2.5m. The 2.5m was at nearly 10% over the Ask. Anavio hold 21m unsecured. Art has a good holding. Too many reaons for complete failure. I think that the SL will extend the facility. Especially if we are on the verge of a large production increase. We were at 2700 before so nobody can say we can't recover the oil. This may not all happen this week but I think discussions are ongoing.
'Where do Atlas fit in to all this?'
I don't know, but their 50 million shares cost them a lot compared to today's price. They crossed the threshold on the 14th but they probably did not buy them all that week, the volumes were lower. So they may be in at many times the current price. Mabe another TR1 from them tomorrow after 400 million shares were traded in 2 days last week?