start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

5/1/15

Coastal Gold (COD.v) may be annexed from Bhartistan after all

As Friday evening NRs go, this is one of the more interesting ones in recent weeks:

PANAMA CITY, PANAMA--(Marketwired - May 1, 2015) - Taylor Housser and Glynn Fisher advise that on April 30, 2015, Satori Investments Ltd. ("Satori"), a private company wholly-owned by Mr. Fisher's spouse, but over which Mr. Fisher has full trading authority, acquired direct ownership of 2,000,000 common shares of Coastal Gold Group (TSXV: COD) (the "Coastal Shares") at a price of $0.03 per Coastal Share. After giving effect to the purchase of Coastal Shares on April 30, 2015, Satori owns, in the aggregate, 2,000,000 Coastal Shares, representing approximately 1.18% of the Coastal Shares outstanding. 
In addition, Verdmont Capital, S.A., a private company controlled by Messrs. Housser and Fisher (collectively, the "Joint Actors"), owns 12,411,000 Coastal Shares, Jacametra Inversiones, S.A., a private company owned by Mr. Housser, owns 2,381,000 Coastal Shares, and Mallinson Hill Limited, a private company owned by Mr. Houser owns 280,000 Costal Shares. The Joint Actors are acting jointly and in concert in respect of their investment in the Costal Shares, and therefore the Joint Actors beneficially own, directly or indirectly, or exercise control or direction over, an aggregate of 17,072,000 Coastal Shares, representing approximately 10.1% of the Costal Shares issued and outstanding as at the date of this News Release. continues here

This of course comes on the back of the news covered by IKN earlier this week. All that about how Coastal Gold (COD.v), run by Bharti cronies, thinks that a 5c/share deal from its overlord via his Sulliden vehicle (SMC.to) is better than the 8c/share offer from Keith Neumeyer's First Mining Finance (FF.v).

The EGM happens this Monday coming. Could be a lot of fun.

PS: Message for Ryan Morris of Meson Capital: This is how it's done, grasshopper. You have much to learn, grasshopper.

PPS: Just for the record, there is some dispute about how much SMC and how much FF is offering for COD.v, with 2 1/2c and 5c also doing the rounds. I'm okay about that, there are different ways of skinning this particular cat, the bottom line is that FF.v is almost certainly offering a substantially greater amount at the current slate of the three companies.