idle and fond bondage

How Palisade Global works, Giga Metals (GIGA.v) edition

Please note that the people behind Palisade Global (registered in The Bahamas with most of its dirty work done out of Panama) are not the people behind Palisade Capital (registered in New Jersey, founded in 1965, re-incorporated in 1995 and as far as I know, a fine upstanding insto catering to HNW individuals). Two different companies and in fact, the way in which Palisade named itself five years ago is probably an attempt to get reflected glory from the large and successful insto.
Anyway, here’s an example of the way in which Palisade Global, headed up by one Sean Zubick (from next to a hotel pool in Panama if his LinkedIn photo is anything to go by), goes about its business of pumping worthless stocks on retail sheep using its designed-for-pump media channels. The script that follows is from A. Reader (who wishes to remain anonymous and their wish is my command) and not the words of your humble scribe, but it wouldn’t be published on this blog if the information hadn’t checked out and were solid. I’ve scrubbed very lightly at the text and provided the hyperlinks, but apart from that it’s all the work of A. Reader. Take it away:
Thought you
might be interested in Palisade’s involvement in a particular
The company
is Giga Metals, formerly Hard Creek Nickel, and here’s the sequence of events:
August 2017

Hard Creek is down
to virtually nil in cash and has a market cap of approx. C$1.5 million. The
company announces a share consolidation and financing via issuance of $0.06
units comprising shares and 3-year warrants with a strike price of $0.08/share.
The company changes its name from Hard Creek to GIGA and announces a
focus on battery metals.

financing is taken down by a small group including Palisade & Pala
Investments (and/or certain of its principals). The investor domiciles
(Bermuda/Belize) in the exempt distribution summary tell the tale.

August/September 2017

begins pumping the stock to its close associates.

September/October 2017

The first
public pump of Giga is done via the Palisade Radio program featuring Pala’sAnthony Milewski mentioning Giga as a preferred junior nickel play.

The early
stages of the Palisade pump runs the share price up, allowing the completion an October financing at $0.35/unit for proceeds of $2.36 million.

December 2017/January 2018

announces that is has retained Palisade for IR and strategic advisory services
at a monthly retainer of $15K for 3 years ($360K) payable in advance.

Giga closes
another financing for $2.4 million comprising of units priced at $0.60/unit.

1-year Share Price Performance – Round
Trip, Anyone?
reached 90 cents in November, at which point the investors in the
August PP at $0.06/unit were sitting on a 15-bagger from the shares
alone (i.e. not to mention the warrants). Then as the 4-month hold came
off that PP, look out below. More recent attempts to pump the stock
(Seeking Alpha coverage, etc.) have not worked out so well.

Leave a Reply

Your email address will not be published.

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.