Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Some info from the most recent form 7. Not much new:
As per the previous Form 7 disclosure the Company continues to undergo its fundamental business change, therefore public trading of its shares remains halted.
The Company had received approval from the listing committee of the CSE for its fundamental change of business. However, with the company signing a letter of intent with Phyto Pharma it is required to amend the listing statement to reflect the new transaction.
The Company has completed the amended listing statement and submitted it to the CSE.
Private placement at $0.12 closed
gross proceeds of $1,614,679.68 through the sale of 13,455,664 units (“Units”) at a price of $0.12 per Unit
https://webfiles.thecse.com/sedar_filings/00016546/1903221742105331.pdf
Where do you see that? Latest post on CSE is from Feb 19 saying the info I posted. They also posted a proxy form and management information circular for the meeting on the 19th.
I really hope it doesn't get cancelled and shareholders can ask them some pointed questions.
Anyone going to attend the AGM??
"TAKE NOTICE that the Annual General Meeting of the Shareholders of VINERGY RESOURCES LTD. (hereinafter called the “Corporation”) will be held at Suite 1500 – 1055 West Georgia Street, Vancouver, British Columbia, on Thursday, February 28, 2019 at the hour of 10:00 a.m. (Vancouver time)"
Bacardi left the board in October apparently...
https://webfiles.thecse.com/sedar_filings/00016546/1812061440228622.pdf
Not exactly surprising.
Financial statements and MD&A are out on SEDAR now.
Basically they have no money, are not doing anything, and owe a bunch of money for various things. Literally no update on the business.
They did a share exchange to invest in a 'Company' in March - wonder if any of the VIN directors are involved with that mysterious company....
Brutal
Almost all bids on CSE are gone.
Up until recently there were bids showing on the CSE going up to ~1.00 from before the halt happened. I checked today and those are all gone now, with only one bid for 10k shares at 0.19 by TD, matching the ask of 500 shares at 0.19 by Instinet.
Not sure it necessarily means anything but these bids haven't changed in a long time (since before halt).
I think you could be right. Now it's showing 500 shares at 0.305 by Instinet, but it's now matched with 59,000 shares at 0.305 on the ask by Scotia.
The Scotia Capital ask just showed up and is the biggest lot on the ask by quite a bit.
Thanks for posting! Hopefully more updates to come.
Instinet Canada Limited placing bids on CSE.
This forum has been pretty dead since the big announcement so thought this could generate some discussion/speculation.
I check the CSE page for VIN pretty regularly for any updates. I noticed on the orders lately that bids have been fluctuating from day to day between having zero bids, to having one order by Instinet Canada Limited for 500 shares at either 0.50 or 0.52.
Any thoughts as to why this broker is placing and removing almost identical bids on a halted stock? Someone that wants to keep at least one bid on the books? Maybe there's nothing to it. Instinet does offer algorithmic trading so maybe it's bots trying to place bids?
Anyone else curious about this?
Many thanks HB. Great digging!
True. Fair enough. Fingers crossed for something this evening.
Will we get the NR we were promised today?
The fact that they've put a date on it is promising. However I take everything with a grain of salt since they told me 'a few days' over 3 weeks ago.
A NR showing some progress would really be great for investor confidence.
Please keep us posted!
I already posted this but when I contacted them at the end of January they said:
The Company continues to work toward completion of its fundamental change of business and its RTO with MJ Biopharma. The Company hopes to issue a press release within the next few days which will update everyone on the current status.
Thanks,
Randy Clifford
Still waiting on that press release!! A few days turning into a few weeks. That might actually fit with your hypothesis that it's something out of their hands. I'd still rather they not give deadlines though if they have no idea they'll meet them.
They replied same day actually.
I was able to get in touch with someone via the e-mail listed on the CSE website:
drcliff@telusplanet.net
E-mailed IR today
Asked for update on fundamental change and MJ Biopharma deal.
Here's the response I got - very similar to what others were told:
The Company continues to work toward completion of its fundamental change of business and its RTO with MJ Biopharma. The Company hopes to issue a press release within the next few days which will update everyone on the current status.
Thanks,
Randy Clifford
New form 7 on the CSE, doesn't give any new info unfortunately
http://thecse.com/sites/default/files/Form_7_-_Vinergy_Dec_2017.pdf
Can you imagine how sp would take off if we could unhalt with some good news about product development in the midst of all this sector hype? $36M market cap even at 1.00/share - companies are hitting 50-100M market caps left right and centre! So frustrating!
"What they are going to do, we’re told, is put out a corporate update either late this week or early next week, to let folks know what the status is, what’s coming, and that something is actually happening."
And of course a month later we have heard nothing, while the closing date for the MJ Biopharma deal has come and gone, and the AGM cancelled. Nothing but empty promises from management. So frustrated to have my money still stuck in this POS.
Me too. We need answers! It's a shame to be halted right now when there is huge hype in the sector and other pharma plays are running.
Annual general meeting is next friday. Would love to hear management get asked some tough questions by angry shareholders!
This Thursday is date deal is supposed to close (Nov 30) - something to look out for
Anyone going to attend the AGM??
http://thecse.com/sites/default/files/investorx/VIN/1711201000292110.pdf
Vinery announces amendment to definitive agreement
Amending Agreement
Pursuant to the terms of the Amending Agreement, the Company will, upon closing of the Transaction, issue to MJ BioPharma shareholders an aggregate of 4,000,000 common shares in the capital of the Company (the "Payment Shares") at a deemed price of CDN$0.20 per Payment Share. Previously, the Company was to issue 9,750,000 Payment Shares. The Payment Shares will be subject to escrow conditions and/or resale restrictions as required by applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE"). In addition, the termination date has been extended to September 30, 2017.
http://www.marketwired.com/press-release/vinergy-resources-announces-amending-agreement-definitive-agreement-with-mj-biopharma-cse-vin-2230911.htm
Looks like they are getting MJ Biopharma for cheaper than before??
Someone on stockhouse said:
July
I spoke with a gent there yesterday, he says July....I will not hold my. Death but hoping for the best
Read more at http://www.stockhouse.com/companies/bullboard?symbol=c.vin&postid=26340814#yURQRe8D31DK8BGC.99
To be taken with a grain of salt
Although I know the bid/ask is basically meaningless while it is halted, there seems to be a lot of bids starting to stack up in the 0.15 or less range. Still seems to be lots of asks though going as high as the 0.9 range.
Again this means nothing because it could change at the drop of a hat, but interesting to see how it changes from day to day while the stock is halted.
http://thecse.com/en/listings/oil-and-gas/vinergy-resources-ltd
Thanks B0RGS!
This thread may be of interest:
http://www.stockhouse.com/companies/bullboard?symbol=c.vin&threadid=26087415
Finore was halted on both exchanges
The only other company I know that came from a long halt was liberty leaf but I'm not sure if they were trading on the US exchange at all. I would be interested to hear if anyone else knows of any past similar situations.
Another day another 10% down. Really hoping this halt ends with some big news coming out soon. Chris Parry said end of May...
At this rate we're going to be sub 0.10 by the time the halt is lifted...
Yep. I meant to post something about this as well. All time record volume on the US exchange out of nowhere. Previous record was around ~650k a week or two ago.
Thanks lithiumjr! Great breakdown of the article
Great points. I agree - there really is no other way to grow at this stage than to issue shares. Look at how diluted companies like ACB are. Overall I think if they can actually get one of their products to market and start making some cash, all this stuff will be a minor blip looking back.
A less than positive article about VIN
ihttps://www.insiderfinancial.com/vinergy-res-ltd-com-npv-cnsxvinotcmktsvnnyf-gets-a-close-look/122852/
I guess we'll find out! And yeah the bids on the Canadian side are at 0.56 only slightly higher than when it halted. I miss seeing those 0.9 bids we had a while back!
This is very exciting but the biggest question that this raises for me is how they had increased demand for the PP when you could buy shares on the open market right now for almost half the PP price??
Still halted. Fundamental change can take a long time. Look at when WER became Liberty Leaf (taken from a stockhouse post):
Looking very similar to when WER-->LIB. Unfortunately it was a really long wait. Hoping not the same for us.
May 2016:
IIROC Trading Halt - WER
May 5, 2016
TORONTO, May 5, 2016 /CNW/ - The following issues have been halted by IIROC:
Company: Weststar Resources Corp.
CSE Symbol: WER
Reason: Pending review of fundamental change by listing exchange
Halt Time (ET): 11:17 AM ET
THEN
October 2016:
image: http://media3.marketwire.com/logos/20160321-cse3.jpg
Canadian Securities Exchange (CSE)
October 20, 2016 16:12 ET
2016-1010 - Fundamental Change - Weststar Resources Corp./Liberty Leaf Holdings Ltd.
TORONTO, ONTARIO--(Marketwired - Oct. 20, 2016) - Pursuant to a Fundamental Change Review, Liberty Leaf Holdings Ltd., the issuer resulting from a Fundamental Change of Weststar Resources Corp. has been approved for listing.
Listing and disclosure documents will be available at www.thecse.com.
The symbol WER will be delisted at the close on October 20, 2016. Liberty Leaf will begin trading on October 21, 2016.
New Listing: Liberty Leaf Holdings Ltd.
Trading Date: October 21, 2016
New Symbol: LIB
New CUSIP: 53069P 10 1
New ISIN: CA 53069P 10 1 8
Boardlot: 500
Business Sector: Life Sciences