The announcement yesterday has a detailed description about critical metals and the in specie distribution.
Page 7 to 12 is worth a read.
What I understood is:
99,987,442 critical metals shares will be distributed to share holders on prorata basis of voting is successful.
Critical metals are not listed on any exchange. This seperation is targeted to help critical metals operate independently and raise funds to carry on with exploration activities in Scandinavian mines.
There will be no change in the amount of shares that each HNR holder is holding at the moment. However the valuation will reduce due to capital reduction. This actually balances out with the critical metals shares being issued.
I will now leave this with all the experts in hot copper to do an impact analysis ..
Cheers
HNR Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
