No split will be necessary
No where in this document or any other document has the company discussed a reverse split. Lets all remember this fact.
The minimum price for the TSX-V is .15 cents.
BMSPF is currently trading between .03 and .035 so we need to go up about 450% This will be easy considering we went up 450% since Dec 2013, from .008 to .036 with very little news.
A private placement at .10 cents is still very cheap in light of where the price will be when ground breaking takes place in the 4th Qtr of 2014. I'm guessing at least .20 cents.
With the potential for other news before construction:
1. Long term contracts
2. Long term leases
3. Bond funding for construction
I have no doubt we will be at .15 cents or higher when the time comes to move to the TSX-V
This of course is ALL just my opinion based on the companies goals and past statements found in PR's and the MD&A's
Item 4 Summary of Material Change
On June 4, 2014, the Company completed a private placement of Convertible Debentures (each,
a “Debenture”) in the aggregate principal amount of $130,000. The Debentures will mature
(“Maturity”) on the first day of the calendar month that is eight (8) months from Closing and
will not accrue interest. Pursuant to the terms of the Debentures, and subject to adjustment, the
subscriber may convert all or any part of the principal amount outstanding under the
Debentures into common shares in the capital of the Company (each, a “Share”) on the earlier of
(a) Maturity and (b) the date the Shares are listed on the TSX Venture Exchange at a conversion
price of $0.10 per Share unless conversion is effected at Maturity, in which even the principal
amount will be converted at a conversion price of $0.09 per Share.
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