Q: I looked in my Brokerage account today and noticed that my former Gear Energy (GXE) shares had been converted into Lotus Exploration (LTC) shares and cash. It looks like 62% of my Gear holding was converted to Lotus shares and 38% was received in cash (at a very low valuation).
Since the transaction Lotus has lost 29% in just 2 weeks.
I don't know how such a sleazy deal got past the TSX regulators? This reminds me of the bad old days when the TSX head honchos enabled frauds such as Bre-ex, Sino-Forest and so on or the even worse Vancouver stock exchange days.
In total I am down 53% on my original Gear purchase in Jan'23.
I have 2 questions;
1) does LTC pay a dividend?
2) is there any valaue at all in LTC or is this whole thing a fraud?
Regards,
Ticked off Dave
Since the transaction Lotus has lost 29% in just 2 weeks.
I don't know how such a sleazy deal got past the TSX regulators? This reminds me of the bad old days when the TSX head honchos enabled frauds such as Bre-ex, Sino-Forest and so on or the even worse Vancouver stock exchange days.
In total I am down 53% on my original Gear purchase in Jan'23.
I have 2 questions;
1) does LTC pay a dividend?
2) is there any valaue at all in LTC or is this whole thing a fraud?
Regards,
Ticked off Dave
Q: What are your thoughts on this new spinout company. I voted against the deal. I'm long Canadian oil and gas but I'm down in my tfsa and it looks like we no longer get a dividend to wait.