Anyway peterking, if BM did explain the exact purpose of the cleansing prospectus for $1.00 then everyone would be much wiser.
The only time I have come across these is when BM has issued them and I know other companies do issue them.
These cleansing prospectus’ cause more confusion than thing else that I have come across.
Your explanation is not an explanation it just refers to a meeting and issuing of options. I.e. “this is in preparation for…….”
“This is in preparation for the meeting on the 27th wherein, amongst other issues, will be the approval of issuing of options to shareholders who participated the recent CR.................... “
From the prospectus….
Item 5.1 * The primary purpose of this Prospectus is to remove any trading restrictions that may have attached to Shares issued by the Company PRIOR to the Closing Date (including PRIOR to the date of this Prospectus).
The above item 5.1 does not mention preparation for the meeting or issuing of options. It clearly mentions removing any trading restrictions from shares that may…….. and the options have not been issued, according to your post.
One possibility would be to remove the sale restriction of shares that are in escrow to allow the sale of said shares, should the owner need to sell them. While still keeping them in escrow?
MXC Price at posting:
4.2¢ Sentiment: None Disclosure: Not Held
