Member Info for smidsy

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Read more at http://www.stockhouse.com/news/press-releases/2016/04/04/iiroc-trade-halt-edge-resources-inc#1irhfXv7Xvbe7JCu.99

For those of us who are still interested in Edge. The company has today asked IIROC to call a Trading Halt and share trading was suspended from 8.0am today (Canada time) I can't find any more information on this although I have posted a couple of messages on the Canadian Bull Board. I can't see anything on the Web site although the Web site was not one of Brad's strong points.

the extract below is from the report. If I read this right the major creditor takes 93% of the shares. This to me shows that the creditor is confident on being repaid for the money lent to the company. No doubt the creditor will have checked and double checked to ensure that Edge will survive the current situation with the oil price. How the consolidation of 20:1 will effect I am not so sure other than to swap 20 of my shares for one of Edge. Like Confounded I would be glad of other comments. As part of a debt restructuring being considered by the Corporation, management of Edge Resources is currently negotiating with its subordinated secured lender (the “Secured Debtor”), one of its more significant secured debtors, towards the possible issuance of common shares in exchange for some or all of the debt owed. Currently, the Secured Debtor is owed approximately $11.4 million by the Corporation (including outstanding principal and accrued interest). In order to assist with the restructuring, the Secured Debtor is also contemplating providing the Corporation with further secured debt in the approximate amount of $600,000. As a result of the proposed debt restructuring and following the proposed up to 20 for 1 consolidation contemplated above, the aggregate amount of the Secured Debtor’s loans and accrued interest, are proposed to be converted into Shares of the Corporation at a price of $0.10 per Share (subject to TSXV approval). Principal and interest accrued on the secured debt to April 11, 2016 shall then equal up to $12,000,000 and would result in the issuance by the Corporation of 120,000,000 Shares. Prior to giving effect to the aforementioned debt restructuring the Secured Debtor, together with its affiliated parties, currently owns or controls, approximately 4,400,000 Shares (representing 2.6% of the outstanding Shares on an undiluted basis). Following the possible consolidation and the possible conversion of the secured debt the Secured Debtor could own or control 120,220,000 Shares (representing 93.6% of the Corporation's then outstanding Shares on an undiluted basis. Both the possible consolidation and the possible debt conversion, and their respective terms, are subject to acceptance from the TSXV.

Hi Robsky, we will probably need all the luck we can get. RNS this morning stating that we have been suspended from the LSE. It makes it sound like we have been cast from the ship and have to make our way to shore. How far we away from the Pitcairn Islands? lol No doubt you will keep one eye on Edge and maybe having some cryptic comment to make ha ha. I shall look forward to them.

Hi shadders, I'm with James Brearley. tel 01253 831250 I have used them for several years and are very helpful with any query I have. They are sorting out the transfer to Canada for me. They obviously have their charges but they are handling everything. Hope this helps

I picked some up at .005 Edge will survive IMO.. a cease trade on AIM is why this is happening and like another poster stated the brokers who are part of Edge trading over in Europe are dumping whatever they had here as part of thier protocal.. lucky for whoever picked up @ .005 .. just hold them for a bit! So I picked up a bundle @ .005 .. how can you not? Glad I sold out earlier too when it was sinking with oil prices.. but its appearing oil prices are starting to turn around finally and EDE hits the lowest possible basement allowed on the venture. Did we all just win the lottery here... maybe???? I figure at least the company had the nards to announce it and give shareholders over in EU a chance to do something about it instead of being sneaky and pulling a fast one.. you have my respect Brad! I have followed Edge for my whole investment career, I have made some serious cash trading their stock on the venture.. and will continue to do so especially with picking up at .005! Grab what you can and hold them I say! Read more at http://www.stockhouse.com/companies/bullboard/bullboard/v.ede/edge-resources-inc#yPaEgmYapPfhPcQc.99

For what it's worth I decided not to sell. For what I would get if I sold, a few hundred quid, is a pittance for my outlay, some £8000 over the years. I have spoken to my Broker who informs me that the shares would automatically be transferred to TSX in the next couple of weeks. Although the Broker would still have these in my nominee account all dealings would be done by their counterparts in Canada, a company called Bell Ltd. All monies would be handled by Crest. If I wanted to buy or sell my Broker would deal with the 'paperwork'. There is a slight charge of a couple of pounds per transaction plus an annual fee to cover their extra costs. Under the circumstances I feel that I have no alternative, I will sit and wait and hope that the SP will recover as and when the oil prices rise and eventually I will sell at a profit. (tongue in cheek) I have been topping up mainly last year and now my average is only a couple of pence. If I lose it all then I have lost a paper value of a couple of hundred pounds. By holding I stand a chance, however remote, of recovering all of my investment. ( investment seems the wrong word to use here). My decision may not seem right to some of you but it is my decision and at the moment I am well and truly out of pocket. GLA

Morning everyone, For those amongst us who find they are being transferred to Canada Exchange I have been trawling the tinternet and have come up with the following Web site that gives us a Bulletin Board. There will probably be others and if anyone knows of another site could they post the details. Thank you. http://www.stockhouse.com/companies/quote/v.ede/edge-resources-inc

Robsky/Drew I use James Brearly & Sons Stockbrokers. They have branches all over the country with the head office based in Blackpool. The £100 is an annual fee for handling overseas accouints.

My mail failed to arrive, have you changed your email address?

Check your mail

It is obvious that Brad is considering all angles on Edge and there must be a considerable saving by leaving AIM. I believe that issuing a RNS is costly and having Nomads and others in the UK must rattle up a huge bill. It would be interesting to receive an explanation from Brad giving a breakdown of the savings he expects to make. On the downside we will be hindered by the time difference between us and therefore will find it more difficult to watch the SP as trading starts five hours behind us. I could go on and on with the merits and demerits but in the main I don't think I will be too bothered by the move.

I have spoken to my Broker regarding the Canadian move and he informs me that my shares will be transferred automatically without any problems. However he informed me that they charge a fee of £100 to manage an overseas account. Do you think Brad will reimburse me with this fee? lol

Glad you have not missed it. I hope you make a few bob.

It's going a little crazy at the moment......upwards.

last fifteen minutes, 12 trades, all buys, 2.3 million shares. WHY?

should be manner not manor although Brad probably lives in a manor

Thanks for your view on Edge. I tend to agree with you regarding a take over/joint venture. We are sat on shed loads of oil, have water disposal facilities and operate in a very efficient manor. It wouldn't surprise me if Edge did become a target for one of the big boys as and when the oil price improves.

Hi Womo, I never thought I would see you interested in Edge again. You dropped out a couple of years ago I believe.Why the interest now after seeing a couple of largish buys and today we see a couple more? The sale of 500000 I think could be a buy.

Mis read the RNS. Winterflood no longer on board.