There is no money exchanged here....there is no financial...

There is no money exchanged here....there is no financial transaction.

I agree this is not a take-over of the company. The shareholders who control BDR will continue to control Americano should the merger be approved, but just because no money is exchanged doesn’t mean it isn’t a financial transaction. Values have been set in this Deed document on both companies shares and that’s what shareholders will be asked to approve. The value of Beadall IMO should originate from estimates on future claims to the revenue from the mine and that is independent of where the company is listed unless of course more capital raisings are going to be needed to properly unlock those claims to the revenue and the only viable market which remains open for future raisings is Canada. I suppose an argument can be made that if the Canadian market is more ready to value the company higher, as it’s more used to this South American segment of the market, then there are advantages to existing shareholders by moving to this market. I don’t believe that consolidating the stock is going to lead to higher liquity though so the company and independent expert will need to clarify how this will be the case if they are using this as a selling point for the move.

The real change of control event will be if and when Sprott take over the security over the mine. Has anyone read anywhere if the current security holders are in agreement with the plan. Given that the debt has been outstanding for much longer than anticipated one could be safe to assume that if Sprott where to pay it out with the appropriate interest they would be very happy. They might even be happy taking a hair cut on the debt if it is paid out in a lump sum. Does anyone know what the arrangements will be in respect of the security. I’ve only just skim read the document once and there seemed to be very little (no) reference to the existing creditors within that document that I could find. Esh