Ann: Nova to Unlock the Value of its Lithium Projects, page-29

There are many reasons why this restructuring is necessary to unlock value for shareholders. Rest assured, with the amount of dollars invested by the CEO himself, his interest is completely aligned to ours.

Fundamentally the 2 reasons that I think is important, amongst many others:
1. Tap into valuation arbitrage between TSX vs. ASX. TSX values lithium exploration company with much higher valuation vs ASX. Using peer comparison, you will argue that our fair value at this point in time should be doubled what it currently is and what was proposed for the IPO.
2. NVA SP to an extent is capped by the millions and millions of shares owned by the old QUR guys. Some of the people who put the QUR/ NVA reverse acquisition also owns significant amount of options. Both the shares and options owned by them will effectively cap the SP as they will be constantly offloading their shares whenever there is a good announcement. By pursuing a separate listing for Thompson Bros without this baggage, it will effectively allow the project to be valued fairly without excessive artificial selling, and then hopefully the value will translate to NVA SP too (if it doesn't then there will be a arbitrage scenario)