HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

Free
Message: Re: WILL the NEXT CEO be a PUPPET from RCF
Reply New Message
Back To Forum List View
WILL the NEXT CEO be a PUPPET from RCF
6
crazytrade
Mar 16, 2013 09:39AM

"As a result of the Transaction, RCF will own an aggregate of 41,425,756 Common Shares in the capital of Noront, representing approximately 18.19% of Noront's issued and outstanding Common Shares and 16.57% on a fully diluted basis."

PLUS the loan convertable shares of 33,333,000 to pay back instead of cash.
eguals 75 million shares total of a 300,000,000 share company which without doing a complete mathmatics is over the threshhold to create a problem if 66% is needed for a takeover vote.
Am I wrong with this ?
If RCF takes the shares for the loan they can own over 33% of the company???? For about $40 million spent on all the shares average
5 Recommendations
Reply New Message
Back To Forum List View
Share
Share
New Message
Please login to post a reply