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Microcap & Penny Stocks : CCK.v a shell ready for lift-off
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To: downandout who wrote (11)12/18/2016 7:31:06 PM
From: NuclearCrystals  Read Replies (1) of 87
 
The regulators just got it wrong. Canada Coal always pre-files its press releases so that no issues can arise after the news goes out. The regulators either approve it right away or they make recommendations to include or remove certain language.

If you look at the release as it went out the first time, there was a bunch of language in it relating to change of business and making it clear that this was strictly a due diligence period that did not constitute a change of business transaction at this point.

The company put out the release and the regulators then stepped in to keep the stock halted while they delivered further documentation relating to a change of business (I know, you're thinking like me, wtf? It was already stated there was no transaction contemplated at that immediate time.)

Obviously the company appealed the regulators decision to keep the stock halted and upon review of the decision, it was reversed and the company put out the press release once again with the language modified from the original but saying exactly the same thing as the original.

An overzealous regulator at the OSC overstepped in this case.

Here's the original release followed by the second release for comparison. Sanity prevailed and the company can now pursue the deal with the market able to freely establish what the value proposition is if a transaction were to take place.



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