Replies to post #4325 on Turner Valley Oil and Gas Inc (TVOG)

[reader3]

See the May 22 CFO agreement:

Pursuant to the terms of an employment offer letter by and between the Company and Mr. Adams, effective May 9th, 2017, Mr. Adams will receive a base salary of $ 100/hr in common restricted shares calculated monthly, shares will be calculated based the share price at the end of the month

http://www.otcmarkets.com/financialReportViewer?symbol=TVOG&id=172762

And then see the April 19 Bank Placement Engagement: they're aiming for at least $1, and know they can't get there with senseless dilution:

Pursuant to the Placement Agent Agreement, Turner Valley Oil and Gas, Inc. proposes to offer for sale, in a private placement up to $25,000,000.00 in the form of a 10% secured convertible preferred share to accredited investors. The conversion price will be a discount to the previous day’s closing price on their common stock with a minimum price of $1 and will convert one common share for every preferred share. Upon exercise, the investor will also have the option to buy an additional half a share, which will be converted at 60% of the common stock market value on a cash basis with low limit of $1 per share.

http://www.otcmarkets.com/financialReportViewer?symbol=TVOG&id=169909

[l_winthorpe]

Crazy in a good way, or bad? I'm assuming those restricted shares have been issued as a form of compensation to service providers?