How did Magpie get to 117,610,352 outstanding shares?????

"The property was acquired by staking by the Company in partnership with The Sheridan Platinum Group Ltd in 2007 and in the same year sold to a newly formed private company, The Magpie Mines Inc. in exchange for 27,460,981 common shares of Magpie (50% interest). " Sourec - FNC's website

So, what play (which appears to be a some kind of stock split) went on that we don't know about and why was that? That's why i never liked the idea of taking it private. Dirty dirty dirty. PS doesn't fail.

Eudai