Pure Gold Becomes Subject Of Class Action Lawsuit Filed In BC After Revealing Cash Problems
Things are evidently getting worse for Pure Gold Mining (TSXV: PGM). After announcing last week that it failed to hit 2021 guidance and is now facing financial struggles, the firm yesterday indicated it has become the subject of a civil claim in the British Columbia Supreme Court. As it turns out, following the announcement last […]
FaceDrive Closes $17.5 Million Financing Conducted To Support Growth Plan
FaceDrive Inc (TSXV: FD) this morning closed on its previously announced non-brokered financing. The funding saw the company raise capital at a price of $0.59 per unit, with the financing marking the second such fundraising undertaken in March. Under the terms of the financing, the company raised gross proceeds of $17.5 million via the sale […]
DeFi Technologies Renews Share Buyback Plan To Purchase Up To 10% Of Public Float
DeFi Technologies (NEO: DEFI) is looking to give its share price a boost via a share buyback program. The firm this morning announced it would be renewing its normal course issuer bid, which was set to expire this month. Under the renewed normal course issuer bid, the company can repurchase up to 10% of the […]
CGX Energy Closes On US$35 Million Financing With Frontera, Extends Maturity
CGX Energy (TSXV: OYL) has finally closed on a previously announced financing with its largest shareholder, Frontera Energy (TSX: FEC), albeit on slightly different terms than initially announced. The arrangement will see CGX provided with up to US$35.0 million in loans from Frontera. The financing, which was previously classified as a short term loan, has […]
The US Sanctions Putin’s Daughters, Now What?
Details about Russian President Vladimir Putin’s personal life have always been very scant. It’s how the former KGB spy has always designed it, and insisted on how things be done. But now that the US has hit Russia with a new wave of sanctions following the atrocious attacks on civilians in Ukraine, everybody wants to […]
Cathie Wood’s ARK Innovation Is The “Worst-Performing” Fund In Q1 2022, Says Analytics Firm
Contrary to her own belief, Cathie Wood’s ARK Innovation (NYSE: ARKK) fund is the worst-performing for Q1 2022 according to financial analytics firm Morningstar. This follows after the fund 24% during 2021. The flagship exchange-traded fund managed by Wood recorded a 29.9% loss during the quarter. The decline is mainly driven by tech stocks: Roku […]
Karora Resources Sees Uptake In Mineral Resource: 2.71 Million Ounces Measured & Indicated
Karora Resources Inc. (TSX: KRR) announced this morning in its latest mineral resource estimate that the firm is now looking at around 2.71 million gold ounces in the measured & indicated category. This is reportedly an 8% increase over its last estimate in September 2020. The increase is mainly driven by the maiden resource estimate […]
Sean McCoshen: Bridging Finance Bagman
Everything that we know about the Bridging Finance scandal puts Winnipeg businessman Sean McCoshen in the middle of it. He was Bridging’s largest debtor when it was put into receivership, and the details put him right in the mix at all the dirtiest parts. The media made hay with this grease ball as it all […]
Blackberry Settles Securities Lawsuit For US$165 Million But Still Claims Case “Without Merit”
BlackBerry Limited (TSX: BB) announced today that it has reached a settlement agreement with the plaintiffs of a class-action lawsuit pertaining to defrauding its shareholders. The settlement is reportedly worth US$165 million. In the case Pearlstein v. Blackberry Limited, the plaintiffs are suing the company for misrepresenting the prospect and profitability of the BlackBerry 10 […]
Fast And Furious: Carvana’s Growth Is Paved With Missing Car Titles And Customer Complaints
On its own website, online car dealership Carvana (NYSE: CVNA) promises a “new way to buy a car.” But apparently, no one qualified how the firm would achieve this so-called “new way” as it faces mounting customer complaints and eroding investor confidence. The Arizona-based firm saw its annual revenue more than double in 2021 at […]