If you think iTech would not be prepared to pay anywhere near...

If you think iTech would not be prepared to pay anywhere near $10m cash for these tenements is a concern but may be right. The reason for the concern is they were an asset on AXE's balance sheet for $15m! iTech are not paying for these tenements in script but rather AXE shareholders are receiving iTech script. iTech is an IPO trying to raising cash to develop the tenements and one of the pitches was that this wasn't a greenfield project as many years and capital has been already spent on these tenements. Simplicity, AXE shareholder have paid for the tenements and new shareholders are paying for the exploration and development in iTech. Ultimately the market will decide what they are worth on listing and the market is never wrong.

To Gerrado's question of do AXE shareholder want to hold iTech shares. Of course because they are tax free and FREE! But I don't know how many AXE shareholders would buy 50 million iTech shares at 20 cents. The genesis of the iTech transaction was to allow AXE to become a pure play deep tech company and enter the Technology Index (Dec qtr?). Personally, I would rather have the cash on AXE's balance sheet and no capital raising than own iTech shares. A capital raising could have be done at a later date "IF" they can achieve any milestones.