Edge Res Share Discussion Threads

[mark10101] 15/4/2016 08:08

Well that did not happen, thought it was normal to make announcement that we have officially delisted from AIM.

[mark10101] 15/4/2016 07:51

Probably saving money and going to announce game over and delisting from AIM at 8am today.

[mark10101] 15/4/2016 07:50

Depends, the only other oiler I have not is on its 26th debt extension. If oil recovers much more they make it through without having to sell assets or dilute shares. Not looking that rosy here, even if we get debt sorted it is at such low levels original holders have little left.

[carpadium] 15/4/2016 07:49

More likely BN too choked to make the announcement.

[andy] 15/4/2016 07:41

mark10101 14 Apr'16 - 16:10 - 3815 of 3816 0 0

Another deadline missed, hopefully that indicates they do have a possible deal on the table.

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Why?

Surely missing a deadline is a bad thing?

[mark10101] 15/4/2016 00:35

Well the silence is deafening.

Just a reminder from edges website.....

Edge Resources —
Ranked as one of North America’s top five oil plays offering low-risk, low-cost, developmental drilling and producing a substantially superior economic return

[mark10101] 14/4/2016 16:10

Another deadline missed, hopefully that indicates they do have a possible deal on the table.

[belgrano2] 13/4/2016 18:39

yes Carpadium, sods law we'll see a revival in Poo, and the foreclosing bank will offload our assets for a ripe profit...unless they have already been approached by a predator.

[carpadium] 12/4/2016 18:03

WTI challenging $42, CDN$ steadily strengthening, typically ironic in the extreme for shareholders should the highly likely outcome on Thurs occur.

[andy] 12/4/2016 18:03

Edge Resources shareholders approve matters at AGM



2016-04-12 08:43 ET - News Release


Mr. Brad Nichol reports

EDGE RESOURCES ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING

Edge Resources Inc. has released results of its annual general and special meeting of shareholders of the company held on Monday, April 11, 2016. The meeting was held, in part, to seek the approval of shareholders for the delisting of the company's common shares on the AIM Exchange. Shareholders approved the delisting from AIM by a 99.92-per-cent majority, and the company's admission to AIM will be cancelled on April 15, 2016.

A total of 13,377,953 common shares were represented at the meeting either in person or by proxy, representing approximately 7.86 per cent of the issued and outstanding common shares of the company.

All resolutions sought from shareholders in the company's management information circular dated March 11, 2016, distributed to shareholders prior to the meeting, were carried by a positive vote of greater than 99.5 per cent of shares voted at the meeting. The resolutions included the matters as follows, all as further described in the information circular:

Fixing the number of directors of the corporation at three;
Electing Brad Nichol, Scott Reeves and Chris Cooper as the directors for the ensuing year;
Reappointing Collins Barrow Calgary LLP, chartered accountant, as the auditor of the corporation for the ensuing year;
Ratifying, adopting and reapproving the stock option plan of the company;
Cancelling admission of the company's shares to trading on London's AIM exchange pursuant to Rule 41 of the AIM rules;
Approving the consolidation of the company's issued and outstanding common shares on the basis of up to one new common share for 20 existing common shares;
Approving the creation of a control person within the meaning of the rules and policies of the TSX Venture Exchange.
The company previously announced on April 5, 2016, that its lender, ATB, had provided notice requiring payment in full of Edge's outstanding indebtedness plus interest, costs and fees by Monday, April 11, 2016, at 5 p.m. MST; however, the deadline is now Thursday, April 14, 2016, at 9 a.m. MST.

The company is in continued discussions with its subordinated lender and other parties to acquire the debt from ATB. While the company is hopeful and encouraged that a deal will be struck to acquire the debt, which would allow the company to continue operating, there are no guarantees this will happen before the deadline imposed by ATB. If payment is not made, it is expected that ATB will undertake action to enforce its security shortly thereafter, which is a process that could take approximately one week to conclude.

We seek Safe Harbor.

[sleveen] 12/4/2016 17:14

debt deadline extended to 14th.

[andy] 12/4/2016 13:52

Mark,

The limited sales on Friday were done at he lowest price possible.

House Positions for C:EDE from 20160408 to 20160412

House Bought $Val Ave Sold $Val Ave Net $Net
95 Wolverton 200,000 1,000 0.005 0 200,000 -1,000
79 CIBC 5,000 25 0.005 55,000 275 0.005 -50,000 250
74 GMP 0 150,000 750 0.005 -150,000 750
TOTAL

[andy] 12/4/2016 13:47

This is the full order book currently,market opens at 14.30 UK time.



V:EDE Depth by Price @08:00:01

Bid Ask
Orders Price Price Size Orders
- 0.005 2,299,000 10
- 0.01 4,983,000 24
- 0.015 1,964,000 10
- 0.02 258,000 5
- 0.025 260,000 2

[andy] 12/4/2016 13:45

mark10101 11 Apr'16 - 13:07 - 3804 of 3807 0 0

Andy, good point, you have always got to find the other side of the trade, but they did not drop the price to discover how low that price was.

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Oh yes they did!

This is the situation

EDE - V no bid · 0.005 2299.0 0.005

So there are 2.29 million offered at 0.005 cents, which is the lowest price that can be quoted on the TSX!

And there were no buyers at that price!

There are 9 million shares offered in total.

It looks doomed to me, happy to be wrong of course, but hard to see why a white knight would ride into Edge at this point.

[mark10101] 12/4/2016 08:06

No news is good news?

[mark10101] 11/4/2016 19:12

Has anyone tried to make contact with Brad, looks like this is going right to the wire.

[belgrano2] 11/4/2016 17:23

so the stock is almost worthless now??? ahh well, thats the early retirement gone.

[mark10101] 11/4/2016 13:07

Andy, good point, you have always got to find the other side of the trade, but they did not drop the price to discover how low that price was. Complete gamble but there is always a price if something is still trading.

[andy] 11/4/2016 09:43

Mark0101, belgrano2,

There were 200.000 traded on Friday.

The reason there weren't any more sells is there aren't any bids!

[belgrano2] 11/4/2016 09:33

may get news by end of close today on tsx what the final result is.
we have a gamblers chance now.

[mark10101] 09/4/2016 13:50

Why did no one in Canada sell the end of the week after the suspension was listed. A hopefull sign maybe?

[adverse] 07/4/2016 08:19

EDG is delisting from AIM. Transfer the holding to TSX. If you think it's worth something over there.

[telbap] 06/4/2016 21:50

As I understand it, even if the subordinated lender jumps into the free, edge do not have an aim advisor, so our share holding is effectively worthless? Is this correct?

[adverse] 06/4/2016 19:49

Yes, Andy, bankruptcy looms. I posted the excerpt from the Interims to show it had been on the cards. EDG didn't release those Interims via RNS which was a bit sneaky. Bottom fishers arrived here on the BB promising huge gains with no justification whatsoever.

[andy] 06/4/2016 18:03

did everyone miss this RNS yesterday?

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05 April 2016

TSX Venture Exchange Symbol: EDE

AIM Exchange Symbol: EDG April 5, 2016

EDGE RESOURCES INC. Calgary, Alberta

Edge Resources Announces Demand by Lender to Repay Outstanding Indebtedness and Notice of Intention to Enforce Security

Edge Resources Inc. ("Edge" or the "Company") announces that its lender, Alberta Treasury Branch ("ATB"), has made demand upon Edge for payment in full of Edge's outstanding indebtedness in the aggregate amount of approximately $8.4 million plus interest, costs and fees by Monday, April 11, 2016 at 5:00 p.m. In addition, ATB has provided Edge with a Notice of Intention to Enforce Security pursuant to subsection 244(1) of the Bankruptcy and Insolvency Act (Canada).

The Company is in continued discussions with its subordinated lender to acquire the debt from ATB. While the Company is hopeful and encouraged that its subordinated lender will acquire the debt, which would allow the Company to continue operating, there are no guarantees this will happen before the deadline imposed by ATB.

As announced on March 4(th) and 15(th) 2016, trading in the Company's shares on AIM is currently suspended as the Company does not have an AIM nominated adviser appointed. The Company's admission to AIM will be cancelled on April 15(th) , 2016, as it does not intend to appoint a new nominated adviser.


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That all looks a bit terminal, IMHO.

let's hope the subordinated lender can come to the rescue!