Very interesting news emerged at the beginning of the week from Fairchild Gold (WKN A3D1D5 / TSXV FAIR), even though it may have flown under the radar of many investors!
Yesterday it became public knowledge that major shareholder Patrick Orlando has acquired another large block of shares in the Nevada-focused gold and copper company. Prior to this reported transaction, Orlando already held a total of 4.5 million shares and 4.5 million warrants of Fairchild, representing 2.73% (5.32% on a partially diluted basis) of the company’s issued and outstanding shares.
Now, according to the announcement, Orlando indirectly acquired an additional 7.5 million Fairchild units at CAD 0.09 per unit as part of the recently completed financing, each consisting of one common share and one warrant. The investor now holds directly and indirectly 12 million common shares and 12 million warrants of the company, representing 6.72% (12.91% on a partially diluted basis)!
Why do we find this transaction particularly interesting? Well, Mr. Orlando is an investor who knows how to make money! He is the former CEO of the special purpose acquisition company (SPAC) that took the U.S. President’s Trump Media public and, through his investment firm ARC Global Investments, held 5.4% of Trump Media at one point!
And since Mr. Orlando explicitly acquired the additional Fairchild units for investment purposes, it is highly likely that he expects to make money on this transaction… We are excited to see what happens!
