Yeo congrats to CP1 holders, the big winners with this deal, an easy 54% jump !
As i posted on AC8 , not too sure if AC8 holders are getting the best deal here, seems to be over paying for CP1, 54% over market price, but I guess need to make it favourable for them to accept. But really paying 17.5 million for what the market thinks is worth 11 million.
AC8 currently have 317 million shares on issue, going at lastmarket price today of AC8 $0.14, means for 17.5 million is going to be the issue of 125 million new AC8 shares, thats big dilution, effectively 125/317 = 39%.
Good for CP1 holders, getting a easy bump up, AC8 holders are paying for it, hopefully they get some value out of it all, on the positive side what else can AC8 do, been paying huge salaries for no outcome for last few years, abandoned a lot of projects so need to get something going.
Can any long term holders of CP1 give me a basic run down of how the company is going, are you impressed with managemend?
Ann: CannPal and AusCann Enter into Scheme of Arrangement, page-3
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