From what Bear posted on the other board....

"Summary of Principal Terms of the Asset Purchase Agreement

Pursuant to an Asset Purchase Agreement dated November 30, 2015 (the "Asset Purchase Agreement"), the Corporation agreed to sell and Newco agreed to purchase all of the assets of the Corporation, excluding the Royalty Preferred Shares and certain receivables (the "Transferred Assets") for a purchase price of US$34.4 million (the "Purchase Price") which will be satisfied by the issuance to the Corporation of 34.4 million Class A common shares of Newco at a deemed price of US$1.00 per share. Pursuant to the terms of the Asset Purchase Agreement, Newco also agreed to assume certain trade payables and other liabilities in the aggregate amount of approximately US$4.6 million (the “Assumed Liabilities”)."

http://agoracom.com/ir/Resverlogix/forums/discussion/topics/656622-zenith-notice-of-meeting-and-management-information-circular/messages/2060659#message

Speculating here, I'm not at all convinced I have this right....

Looking at current Zenith shares according to the Sept 14 MD&A, there are 98,870,379 common shares and "3,173,707 of 4,165,668 stock options are vested and exercisable; 1,333,294 of 2,163,284 restricted stock units are vested" (the calcs leave out warrants ???). Adding all that together (minus the warrants) I get: 103,377,370.

Newco will have only 34.4 million shares valued at $1.00 = $34 million valuation. Where does the 34.4 million come from? What happened to Zenith's current valuation of ~100 million? 34.4 million is ~1/3 of 103,377,370. So perhaps we are getting 1 share of Newco for every 3 shares of Zenith we currently hold? That would mean 2/3 of the current value of Zenith would be left in Zenith Capital Corp (RVX royalties).

If true, that would be quite the haircut for our shares in the Newco IPO. I welcome any shoot-down of the numbers.