OK basically MLX will get $13m for the spin out
Shareholders not left out in the cold either.
65m in shares at 20c plus 25m options Ex25c 3yr strike = awesome
25m will be in specie distribution. I worked this out quickly at 1 NICO share for every 36 MLX held .
I think MLX also retain the 1.75% NSR ???
MLX will retain the 25m ops and will hold roughly 30% post in specie distribution.
Ann: Term sheet executed for spin out of nickel assets, page-2
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