via Publications.gc.ca - The Amalgamation Squeeze Out

By now a going private transaction may actually be the goal of management over the last two years, and that all of the elements of such a transaction are in place, not requiring any additional shareholder input. What would be nice to know is if you are a part of the majority of voters proposing the transaction based on the number of shares you have and whether you are recorded as having voted in favour.

They did raise ~$90m. at market, and these shareholders that participated in raising capital would be the ones having difficulty, unless they too own many shares and voted in favour. How is it determined that you are an original controlling shareholder? Was the squeeze out meant to be the year where there was no bid and only a handful of buyers, though at least some 70 million shares could have been sold?

"An amalgamation squeeze-out, as the name implies, refers to a transaction where a private company is incorporated, the shareholders of which are the controlling shareholders of the company being taken private. The two corporations are amalgamated and the equity shares in the amalgamated company are held only by the original controlling shareholders. The original minority shareholders may be cashed-out or they may receive non-voting redeemable preference shares in the amalgamated company."

So we know what that might look like. these things were all mentioned in the past, they look to be unified under a going private transaction.

Quote from page -3-

http://publications.gc.ca/collections/Collection/C2-280-1-1995E.pdf

-F6