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Shareholder Exposes Short Seller Manipulation in Shares of Kolibri Energy
Shareholder Exposes Short Seller Manipulation in Shares of Kolibri Energy Canada NewsWi...
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[{"type":"text","content":"\n \n \n \n Shareholder Exposes Short Seller Manipulation in Shares of Kolibri Energy\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Feb. 13, 2023\n \n \n /CNW/ - Harrington Global Opportunities Fund Limited (\"Harrington\"), announced today that it has been working in cooperation with Kolibri Global Energy Inc. (\"Kolibri\") (TSX: KEI, OTCQX: KGEIF) to investigate anomalies in Kolibri's shareholdings.\n \n Harrington\n \n is Kolibri's third largest shareholder and beneficially owns or exercises control or direction over 4,077,050 common shares of Kolibri (or approximately 11.45% of the issued and outstanding shares).\n \n \n With the assistance of Shareholder Intelligence Services, LLC (\"ShareIntel\") and\n \n Wes Christian\n \n of Christian Levin Law Group, and also relying on the resources of Buyins.net,\n \n Harrington\n \n has been able to establish the existence of persistent and significant share imbalances which\n \n Harrington\n \n has concluded demonstrates the likely existence of counterfeit shares in Kolibri. Based upon the data compiled, there are potentially millions of counterfeit shares that have been manipulated into circulation. With 35.52 million shares outstanding, and an actively traded float of an estimated 10 million shares, the addition of such a large amount of counterfeit shares would act to significantly depress Kolibri's share price to the detriment of its shareholders and to Kolibri itself. Recordkeeping and reporting rules would also have been violated along with several provisions of Regulation SHO and the Fair Market Making Requirement.\n \n \n Steps are being taken to address this matter with regulatory authorities and law enforcement.\n \n Harrington\n \n is also preparing to obtain redress through the courts.\n \n Harrington\n \n seeks (i) to force an audit of the shares in circulation to determine the number and location of counterfeit shares in circulation, including those in ex-clearing, (ii) to force the buy in of the fails to deliver that have been outstand...