Alabama Graphite .... ALP.V

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abstacey

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Alabama Graphite .... ALP.V

posted on Mar 12, 2015 10:41PM

Alabama Graphite stock (ALP.V; $0.21) shares are halted pending news. I was at PDAC last week and met the team and they certainly seemed chipper about things. And there were rumours circulating that the company would be bought. Today I’m hearing that it’s something else, but it looks promising. We’ll update when we know more.

We found out why Snipp shares (SPN.V; $0.68) shares have been weak. The company was originally a CPC (capital pool corporation).

The seed stock in a CPC is the cheap stuff, and is always subject to a longish escrow period, meaning the shares can only be sold according to a schedule that stretches out three years. The final tranche of the seed stock (which was issued at 5 cents) became free trading on March 1, so the owners have been dumping it to lock in a massive profit.

There were 3 million shares and it looks like the selling is mostly done. Meanwhile the company has released encouraging news and the move the Nasdaq is intact.