GEM is a US$3.4 billion alternative investment group7 Aug 2024 11:38
Who is GEM....???
Well in last year when accounts were finally delivered ....pennpetro said the following....
"The Company also has access to a $20 million financing facility, signed in May 2021, which remains undrawn"
GEM has completed over 435 transactions in 72 countries worldwide
Pennpetro agreed to the issuance of up to 12 million warrants at 40 pence each to GEM.......if GEM was to exercise these warrants in full..for one.....they will be PAYING 300% PREMIUM from current levels....will bode well for...current holders below 10p.....2ndly and more importantly....not only we have access to $20m when-ever need it...but....warrants themselves will give us...EXTRA £4.8M...
First thing is first....we need to get ABOVE 40p levels...which is very very possible..in not distant future...
Last thing the deal mentioned above was signed in MAY 2021...and was still in place as of last years ACCOUNTS date...it is possible the deal is amended or withdrawn....but due to us being on the CUSP now...i doubt it will...terms and conditions should remain same.