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Power Nickel to File Complaint on Widespread Potential Illegal Short Selling of its Shares
Power Nickel to File Complaint on Widespread Potential Illegal Short Selling of its Shares ...
About this update from Power Metallic Mines Inc.
[{"type":"text","content":"\n \n \n \n Power Nickel to File Complaint on Widespread Potential Illegal Short Selling of its Shares\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 Nov. 23, 2023\n \n \n /CNW/ - Power Nickel Inc. (TSXV: PNPN) (OTCQB: PNPNF) (Frankfurt: IVV) (\"\n \n Power Nickel\n \n \" or the \"\n \n Company\n \n \")\n \n Terry Lynch\n \n , CEO of Power Nickel and founder of Save Canadian Mining, and its advisors have prepared and will file in the coming days an official complaint detailing significant and persistent position imbalances for Power Nickel's stock. This troubling imbalance is defined as a broker having an insufficient number of shares in its depository account compared to the number of beneficially owned shares for its customers. This can indicate potential naked short selling and other manipulative actions designed to artificially drive down share prices. Power Nickel is bringing this to the attention of all Canadian investors to make them aware of the non-market factors that have led to the terrible performance of the TSXV despite this being on the whole a robust commodity market.\n \n \n \n \n \n \n \n \n \n \"The takeaway is that it is not remotely normal for our stock market to be so severely depressed. Indeed, it is clear there is something fundamentally wrong with the price action on the TSXV and indeed all Canadian exchanges. In my volunteer unpaid role as founder of Save Canadian Mining we have tried to bring this problem to the attention of Canadian politicians and regulators. However, this lobbying effort had no discernible benefit. Nothing was accomplished,\" commented Power Nickel CEO\n \n Terry Lynch\n \n \n \n Shortly Power Nickel will file a formal complaint which should cause CIRO and FINRA to investigate the investment banks we have found who have persistently and consistently maintained significant imbalances of more than 100,000 shares for a minimum period of 8 weeks. This imbalance started collectively around 3,000,000 shares and now stands at over 9,000,000 shares on the 80% ...