10,000,000 shares....
in response to
by
posted on
Jan 28, 2013 12:45PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
From the Stockhouse board.....
In addition, pursuant to the Comp any's news release of September 28, 2012, Opawica announces that it has received the 9,925,000 shares of San Gold Corporation out of Escrow for the sale of three properties from Opawica to San Gold. These San Gold shares are subject to a four month hold period expiring on January 29, 2013
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=32028657&l=0&r=0&s=SGR&t=LIST#R7bKyt8uE2Z9KR8S.99
Tomorrow these shares become free-trading. OPW is at 3 and a a half pennies so it would be crippling for them to finance at these levels. They could elect to sell their SGR holding to raise some cash. It would make sense to cross this type of size out as opposed to having it hang over the market. If OPW wishes to divest of these shares, the buyer will likely want them at lower levels. I suspect there will be a spike down to facilitate the cross.