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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: Bob Hack who wrote (3076)12/3/1997 12:20:00 PM
From: Jadrew  Read Replies (1) of 7966
 
Low Price for own Private Placement:

Bob, I think your logic on this one is mistaken. Ashton's parent who controls 62% of ACA recently did a "rights offering" to raise additional capital ($15 million or so). The parent was willing to pick up all unexercised rights. I think (just check the past news releases) that most of the minority shareholders exercised their rights, keeping Ashton's parent ownership share at 62%.

If additional capital is needed, I assume another rights offering would be issued. As for sneaking a private placement through with themselves, I don't fully know the security laws, but as a minority shareholder, I'd be suing the A__ off these guys if they were in posession of "insider information" that they didn't release to the public before pulling off a "self" private placement.

ACA has not shown any inclination to do something like this (unlike numerous VSE companies, who seem to spend more time granting/re-setting their own options, then they do exploring).
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