As I mentioned in my earlier post that Van Eck added 5 million shares on the last RE-Balance, probably Colonial was the seller.
I want to add one more point about this merger thing.
I read lot of people talking as if this is a takeover or some shoddy deal etc etc.
I say to those people there is no need to complicate things or matters.
This is not a takeover .....by any measure.
There is no money exchanged here....there is no financial transaction. It is not that someone came and offered 90-100 million dollars and the management & board agreed to surrender.
This whole merger exercise is to list in TSX-V to expose BDR to new breed of investors.
Yes our shares will be consolidated to 14.25 to 1 which means if one has 142500 shares now will have 10000 shares in the newly formed company. The value will still be the same just the number of shares will be reduced drastically. It will no longer trade like today, there will be less available shares ...so can go down quickly and may go up quickly.
It is a takeover to someone who is selling today at these prices and finds out in couple of years time that Americano has a market cap of 500 or 600 million dollars or a billion .....who knows. Who would have thought about NOVO resources. Yes that will be a takeover of their shares at 8c.
BDR Price at posting:
8.1¢ Sentiment: None Disclosure: Held
