James Grenon completes acquisition of GME shares
Winzer - below should explain the majority of GME dilution. I would doubt the option to acquire 210,000 shares at $1.07 was exercised by former pres. George Kent. Assuming all options, purchase warrants and debentures are exercised/converted the FD GME number would be close to 8.2 million shares as you stated previously.
Glimmer Resources Inc (GME-V )
Shares issued 5,318,962
Wednesday Sep 16 1998
Mr. Tony Grenon reports
James Grenon has completed the acquisition of 500,000 shares of Glimmer Resources by private placement from treasury for 80 cents per share. After completion of the acquisition, Mr. Grenon and certain principals of TOM Capital Associates, namely Richard DeGroat, Martin Abbott, Anthony Grenon and Paul Champagne collectively will own 753,500 shares, $2,000,000 of debentures convertible into shares on the basis of $1.10 principal amount of debenture per share if converted in the first year, $1,265 principal amount of debenture per share if converted in the second year and $1,455 principal amount of debenture per share if converted in the third year, directors options to acquire 50,000 shares at 75 cents until Aug. 21, 2002 and warrants, to acquire 500,000 shares of Glimmer exercisable until Jan. 4, 1999.
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