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44.5¢ cannon resources limited

Ann: Cannon Recommends All Cash Takeover Offer from Kinterra, page-28

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MrAu

4,102 Posts.

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31/10/22

19:09

Post #: 64508042
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Originally posted by largeraj: ↑

It look like a done deal to me, in the absence of a superior proposal. I am holding for long term, but given that Kinterra has a relevant interest in 17.1 million Cannon Shares representing approximately 19.99% of all Cannon Shares on issue, plus the fact that Kinterra’s relevant interest is as a result of certain Cannon Shareholders, including Cannon’s largest shareholder, Ponderosa Investments WA Pty Ltd (15.5%), it's hard to see the T-O fail. I expect Passmore and RXL will definitely accept the offer.
I'm not unhappy with the offer, especially given that a CR must have been about to happen, given "To assist Cannon with its funding requirements during the Offer Period, Kinterra Battery Metals Mining Fund, LP has made an up to $1,000,000 short term loan facility available to Cannon."

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do you really believe that the big holders will accept this offer in the face of a higher one? Of course they won't.

CNR Price at posting: 43.5¢ Sentiment: Buy Disclosure: Held
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