Valu-Net Corp (VNE on ASE - was Faymar) Message Board

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Gold/Mining/Energy : Valu-Net Corp (VNE on ASE - was Faymar)

VNE 36.95

0.0%

Apr 1 5:00 PM EST

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To: David in Ontario who wrote (722)	2/16/1999 9:15:00 AM
From: Ian@SI	Read Replies (1) of 974

Nice chart, it looks a little like A sells to B in the morning so that B can buy back from A in the afternoon thus maintaining a false sense of liquidity. I was beginning to suspect that you were David Lucatch in disguise. But then you gave me the wrong number of shares issued and outstanding. You left out the Private Placement from November 4th. Now the CEO wouldn't mislead the public about a material matter. That could be viewed as fraud. The story is starting to become much clearer. We now know that the target number of shares may be as high as 44,500,000 on this go around. From VNE's proxy: "The Alberta Stock Exchange Rules Circular No. 6 of The Alberta Stock Exchange (the "ASE") provides as a general rule that the aggregate number of securities which are issued pursuant to private placement transactions during any six month period will not exceed 25% of the outstanding securities of an issuer. However, the ASE will consider a request by a listed company to exceed the 25% limit and may in certain circumstances require shareholder approval. Generally, the application of the ASE requirement that shareholder approval may be requested for any private placement in excess of 25% of the outstanding securities may restrict the availability of certain funds which the Corporation would otherwise be able to raise by way of private placement. No sweat, VNE can take care of that… Shareholders will also be asked to consider, and if deemed advisable, to pass an ordinary resolution authorizing the issuance by the Corporation, in one or more private placements, of such number of securities that would result in the Corporation issuing during the next twelve months an amount of securities that exceeds 25% but is not greater than 100% of the Corporation's issued and outstanding securities. Have a good day, I'll resume the chat tomorrow, <vbg> Ian.

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