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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: 44 days and counting

44 days and counting

posted on Jan 21, 2010 11:57PM

From ECU's November 30, 2009 news release:

"ECU shall use its reasonable best efforts to obtain a receipt for the Final Prospectus within 45 days following the Closing Date. If the Qualification Date does not occur within such 45 day period, then each Special Warrant will entitle its holder to acquire, upon exercise or deemed exercise, 1.1 unit.

Each Unit will be comprised of one common share of ECU (a "Common Share") and one-half of a Common Share purchase warrant (a "Purchase Warrant"). Each full Purchase Warrant will entitle its holder to acquire one Common Share at a price of $0.90 for a period of 24 months following the date of closing of the offering of Special Warrants (the "Closing Date")."

The closing was announced December 9, 2009, so 45 days will be up on January 23, ie on Saturday. Hopefully there is an announcement today (Friday). Fingers and tows crossed for speedy resumption of news flow. Unfortunately we are at the mercy of the regulators.

Since there are 16,946,000 units, the extra 10% issuence works out to between 1,694,600 and 2,541,900 additional shares depending on how many warrents get exercised.

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Jan 22, 2010 01:35AM
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