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WOW! See that cross trade go through. looks like URA could be done with us today!!
I think it dips. I say this because I believe the entire sector is going to take a leg down and Lexy does follow the MJ sector for the most part.
I shouldn't have said that, the more I Look at this news, although it will probably give us a down day tomorrow, it does provide us with a seemingly good base at $1.60 or so.
NEWS - existing shareholders get screwed again....
2018-10-16 16:22 ET - News Release
Mr. Alex Blanchard reports
LEXARIA BIOSCIENCE ARRANGES PRIVATE PLACEMENT FINANCING TO FUND NEW LABORATORY
Lexaria Bioscience Corp. has arranged a non-brokered private placement for gross proceeds of approximately $1-million (U.S.).
The financing consists of units priced at $1.60 (U.S.) each. Each unit shall consist of one common share of the company and one share purchase warrant. Each warrant shall entitle the holder to acquire one common share at a price of $2.25 (U.S.) per share for a period of 24 months following the closing of the financing.
The net proceeds of the financing will be used to finance construction and development of the company's new Canadian-based laboratory; to accelerate Lexaria-developed research and development; and for general corporate purposes.
Lexaria has received building permits to begin renovations required for a new, larger head office located in Kelowna, Canada. This includes the construction of a new laboratory that, after submission to Health Canada for an R&D license and subsequent expected approval in 2019, will become Lexaria's new headquarters for global R&D across all molecule classes including restricted substances and non-restricted substances that are still strategic in value.
The Lexaria laboratory will contain certain equipment allowing for more advanced processes and greatly reduced R&D throughput times compared with Lexaria's current facilities. This will assist the company in maintaining and increasing its leadership position related to intellectual property.
The financing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities. All securities issued will be subject to applicable hold periods in accordance with Canadian securities laws and will be restricted securities as defined under the securities law of the United States.
About Lexaria Bioscience Corp.
Lexaria Bioscience has developed and outlicenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has eight patents granted in the U.S. and in Australia, and has filed over 50 patent applications worldwide across 10 patent families. Lexaria's technology provides increases in intestinal absorption rates; more rapid delivery to the bloodstream; and important taste-masking benefits, for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
We seek Safe Harbor
I am afraid to think of how low we will be by the time this ridiculous rebalancing act by URA is finished with us. Unless spot price really picks up soon and a legitimate bull run starts to take place for the uranium sector, UEX might be dead in the water for the foreseeable future.
Thanks again Destinator! I view this as good news for a couple of reasons. First, I was concerned that out of that big volume day, there was another large seller of this stock, but now it is just the same old URA. Second, at this point, the quicker URA gets done, the better in my opinion so good to see there was a large cross done and hopefully we see a couple more in the very near future.
This should now provide a floor for the stock price. Hopefully its up and away from here on although these markets are cause for worry and could really stifle any uranium bull run if the major indices really correct.
So who in their right mind is selling all that stock down at these levels?!!!
There is no doubt in my mind they are working hard. No complaints whatsoever in that regard. However, I am beginning to get concerned that for whatever reason, they just cant seem to CLOSE on a substantial deal. Even that I could turn a blind eye to if the whole sector was in wait and see mode but it seems like we are falling behind many others that are progressing. I would be lying if I didn't say that I am growing impatient at this point.
I don't know what their method is, but its starting to feel like we have been left behind. Sure looks like their are deals being made yet we cant seem to close one meaningful deal with anyone and the sector is moving on without us. Maybe that is why the stock has completely stagnated?
Thanks for the daily update on the URA holdings Destinator, much appreciated! It still baffles me as to why that percentage is that much higher than what they set out to do.
Lets hope so. Once the big money starts to trickle in then we can start to see some sustained rising price action. The poster MegaMaxTZ on the UEX stockhouse board was saying yesterday how the UEX market cap exceeded 1 billion during that crazy bull run over 10 years ago which would still put us at over $3 shareprice today.
Yeah, I wasn't too concerned about that. I am far more concerned with the amount of dilution from this financing IF this is indeed a regular financing and not some way to get the rest of the shares from URA to complete rebalancing. I mean, c'mon, wait for the stock to steadily go down for this entire year and when it reaches close to its 52 week low, then do a financing!! A complete bonehead move in my opinion.
Probably just something incorrect with a certain statement and or the wording in the release. They will just need to correct it and re- issue the news. Not a big deal. Was not going to let myself buy anymore of this one till it hit 15 cents, but it actually looked like it was starting to show a bottom so went in and bought another 25 000 shares at 19 today. An hour later they come out with this news. Ughhh!
Question about news
Check out the number of shares in that private placement- excuse my ignorance , but could this be some creative way of taking those shares out of URA's hands?
NEWS
UEX Corporation Announces C$6.0 Million Bought Deal Private Placement of Flow-Through Common Shares
? ? ? ? ? ?Email ?Print Friendly ?Share
September 18, 2018 16:24 ET | Source: UEX Corporation
SASKATOON, Saskatchewan, Sept. 18, 2018 (GLOBE NEWSWIRE) --
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
UEX Corporation (TSX:UEX) (“UEX” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc., pursuant to which the underwriters have agreed to purchase 28,571,429 common shares that qualify as “flow-through shares” for the purposes of the Income Tax Act (Canada) (“Flow-Through Common Shares”) at a price of $0.21 per Flow-Through Common Share of the Company, on a bought deal private placement basis, for aggregate gross proceeds to the Company of approximately C$6.0 million (the “Offering”). The Company has also granted the underwriters an option to sell up to an additional 7,142,857 Flow-Through Common Shares at the offering price up to the Closing Date.
The net proceeds from the sale of the Flow-Through Common Shares will be used to incur “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) related to UEX’s projects in Saskatchewan. The Company will renounce these expenses to the purchasers with an effective date of no later than December 31, 2018.
The Offering is scheduled to close on or about October 10, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Toronto Stock Exchange.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About UEX
UEX (TSX:UEX, OTC:UEXCF.PK, UXO.F) is a Canadian uranium exploration and development company involved in eighteen uranium projects, including seven that are 100% owned and operated by UEX, one joint venture with Orano Canada Inc. (“Orano”) and ALX Uranium Corp. (“ALX”) that is 50.1% owned by UEX and is under option to and operated by ALX, as well as eight joint ventures with Orano, one joint venture with Orano and JCU (Canada) Exploration Company Limited, which are operated by Orano, and one project (Christie Lake) under option from JCU (Canada) Exploration Company Limited and operated by UEX.
The company is also involved in one cobalt-nickel exploration project located in the Athabasca Basin of northern Saskatchewan. The West Bear Project was formerly part of UEX’s Hidden Bay Project and contains the West Bear Cobalt-Nickel Deposit and the West Bear Uranium Deposit.
The eighteen projects are located in the eastern, western and northern perimeters of the Athabasca Basin, the world's richest uranium belt, which in 2017 accounted for approximately 22% of the global primary uranium production. UEX is currently advancing several uranium deposits in the Athabasca Basin which include the Christie Lake deposits, the Kianna, Anne, Colette and 58B deposits at its currently 49.1%-owned Shea Creek Project (located 50 km north of Fission’s Triple R Deposit and Patterson Lake South Project, and NexGen’s Arrow Deposit) the Horseshoe and Raven deposits located on its 100%-owned Horseshoe-Raven Development Project and the West Bear Uranium Deposit located at its 100%-owned West Bear Project.
FOR FURTHER INFORMATION PLEASE CONTACT
Roger Lemaitre
President & CEO
(306) 979-3849
Forward-Looking Information
Higher royalties for cobalt coming out of Congo
https://mobile.reuters.com/article/amp/idUSL5N1W10DP?__twitter_impression=true
Great article Destinator- thanks for posting!
Yes, I did vote for UEX Destinator. Yeah, will see about 15 cents, I think it will go there to challenge its 52 week low but having said that, these things can change awfully quick and if I see signs of UEX starting to rebound I do not mind paying a little more if I have to.
Well Destinator, looks like we are set to make a 52 week low shortly.Wasnt planning on it but I will be buying much more is it should hit 15 cents.
Very well said Destinator, that was a great post!
Fair enough but I expected to see these things start to take off at spot price of $25.When you look at what some of these companies were trading at when Spot was at this level last time, a person really feels like they are missing out on some nice rallys.
I cant believe we are still NOT seeing this spot price rally reflected in the U juniors, even the ones with the etf selling complete.
Destinator, I am also beginning to wonder if UEX management has some potential suitor for a good portion of those shares and they just aren't quite ready to execute yet and URA has agreed to wait it out and then do a large block.
I will NEVER buy a single unit or share of any ETF or public company that any of these "managers" of URA are ever associated with. What a bunch of clowns!
Don't get me wrong Alibongo- I am far from being diversified. I have almost 400 000 shares of FCU while I only hold about 30 000 each of FSY, GXU,DYL and BSK. Then way overweight UEX too, so as goes FCU and UEX goes my portfolio!! I actually wish I had way less FCU and depending on how things go over the next few weeks I might even sell some of that one to increase my positions in others. I would like more UEX but this is one I would rather pay a penny or two more for to have confirmation that the bottom is in.
Well Destinator, I am certainly no pro but I will say this, URA has just about reached their targets with most other companies out there that I am aware of and the fact that they still have this many left with UEX does seem odd to me. Don't know what to make of it though so in the meantime I sit and wait. It sickens me to think how much that damn etf has cost me in profits when I think UEX should probably be trading at 35 cents right now with Spot price at these levels. Not to mention FCU should be closing in on a dollar right about now.
I picked up a little more at 20 cents yesterday too alibongo. Truthfully, I have not bought much this month because I am so overweight in this one, FCU and DML that I have been branching out more to others in the last few weeks such as FSY,DYLLF, GXU and BSK. Certainly not a knock against UEX, just have enough for now and since we really still don't know where we stand with the etf possibly selling millions of shares, I am inclined to be in wait and see mode with UEX for now.
Well, assuming URA keeps up this pace they would be done no later than the end of this year. Hopefully it gets done much sooner than that with at least a portion going to a few large block trades.What a crazy thing to have to deal with after all these years URA decides to sell at what should be the very bottom. Glad they aren't financial advisors for any of my portfolio.
As we have witnessed with LAM a couple of weeks ago, URE a few days ago , and now possibly FCU today, these huge block trades can occur anytime, any day, and basically at any reasonable price. We simply do not know if, when this will happen with UEX. Lets hope to see some sort of confirmation that it has indeed happened with a massive block trade at end of day soon. I honestly have no idea at this point what that ridiculous ETF has planned for this stock, but I do know this- when we have confirmation about this, anyone that has not bought before then will be paying at least a 10 to 20 percent premium once the news hits.
No problem at all Destinator! Just glad to be here and looking forward to some quality discussions. Now we need to get this URA rebalancing fiasco behind us and we will be on to brighter days.
Hello Destinator and Alibongo. great to see you two here. I have been on this site in regards to another stock for years and this is a vast improvement to stockhouse. Between this one and over on twitter with Quakes, we can all finally have some meaningful discussions without all the "trash" that stockhouse allows.
$1.48 and rising.
Someone knows something and something must be good...
Yes, Masterbidder, I believe that is correct.
I personally believe that profit must be their motive so... what was the other choice again?
Beginning to see why LXRP is down more on a percentage basis than all the others I follow during the selloff since the New Year. This 10Q will bring in more selling yet. Well, I guess at this point I will sit with the shares I have but there is no way I will buy any more till this company shows me it can take things to the next level and make progress with this business. At this point, it looks like nothing more than travelling around to various conferences and handing out warrants. truly disappointing.Maybe I am being overly critical, but I was expecting more by now. I just feel Lex is not making the progress that others seem to be, just my opinion.
Having a plan and actually executing on said plan are two very different things and I think we are witnessing why this company is in the penalty box, just the lack of execution. No more, no less. That's the way I see it anyhow.Someone with this company needs to learn how to close a deal. Not saying I would have anymore success than them, but then again, I don't get paid a nice, big salary for it either. Makes the case for a performance based salary for many insiders of these small companies.
A very bad joke indeed. Looks like 80 cents is our next stop.
I would have to agree. Bought some more thinking $1 would hold but it is clearly going to 80 cents by the looks of things. that better hold or we might go right down to where this all started.
I think you and I have been mostly on the same page as of late with this Masterbider. Having said that, it is close enough to my $1 target and I am starting to buy here again right now.