Great answer on the insider trading thing from a Canadian pal of mine very much in the know:
The only set rules re blackout are regarding quarterly and year end financials as far as securities regulators go. Other then that blackout or no trade policies are set by individual companies as far as I know. In reality there is no news that has not been made public info as far as the financing goes since the last release said " The closing of the transaction with respect to the Twangiza gold sale has been delayed due to ongoing internal issues relating to Gold Holding, but we continue to work with them toward closing, although in a more extended timeline than what was originally contemplated," commented Banro Board Chairman Richard Brissenden. "We expect that this transaction, or alternatives to address our liquidity situation, will be finalized in the near term."As a result of the delay in closing the Gold Holding transaction and its effect on Banro's liquidity situation, Banro is progressing alternatives and careful cash management. These alternatives include discussing forward gold sale and gold streaming transactions with other potential investors, as well as ongoing discussions with its major trade payable suppliers to settle up to approximately US$16 million in accounts payable by way of forward gold sale arrangements. Further details will be provided once these discussions have been finalized.
It seems to me that issuing that release brings everyone up to date and as result their is no inside info to stop them from buying shares. I see no reason why they would be in blackout specially since the quarterly was released at the same time as the finance news. Good to go
AI
