Large amounts of discounted dilution for Canadian Overseas shareholders is imminent unless an RBL is secured within weeks - sell
By Gary Newman | Monday 21 November 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Having secured one of the most expensive funding deals that I’ve ever seen, that arrangement looks set to become even more expensive for Canadian Overseas Petroleum (COPL) unless it can secure a reserves based lending facility within the next few weeks.
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