Great question paladin, and good information to have even it Resverlogix doens't end up with this type of offer/deal.  I googled it and found out that in the U.S. that when shares show up in your account as the result of an M&A deal, that the IRS doesn't count it as a disposition until the resultant buyout shares are sold...but I can't find any equivilant CRA info....I would guess that its probably the same, but it would be good to know for sure....even if it doesn't happen here it could happen elsewhere.