Susglobal Energy Corp (SNRG)

[Horsin around]

The June 2021 Investor was issued 1,000,000 common shares of the Company, determined to be valued at $300,000, based on an agreed upon price per share of $0.30. This new round of financing is probably less than .30 based on current price action.

The purchase price (letter of intent agreement) will be satisfied through a payment of $2,420,400 (C$3,000,000) in cash and the issuance of common shares having a value of $8,068,000 (C$10,000,000) on closing. I'm assuming the investors plan on holding onto the shares for a while since they will own a decent size of the company.


Sounds like they need 2.4M for this payment.

Any material event needs to be disclosed to public within 4 days and it was suppose to close on the 8/31. I guess they aren't going to officially close on agreement till they get the 2.4M in shares.

This agreement was first revised back in early June so hopefully they have been on this for quite a while. that's almost 10 million shares at .25. (i'm just guessing on the .25 price, obviously we don't know at what price the financing is for) That takes time to raise that many shares.

I'm not sure how this works. Do these shares have to come from the open market or the authorized share count. Why does pulling from authorize share count decrease the current price of the stock. Or do they try to push down the price of the stock to strike an agreement at that price?