If CYL is ripping off SGI holders by offering ~40 cents per...

If CYL is ripping off SGI holders by offering ~40 cents per share, why are they trading at 29 cents?

Do you honestly believe that holders will vote down an offer that will make SGI shares worth even less?

CYL will have little difficulty raising the funds required (at a notional $1.15, time will tell the actual number). Why didn't SGI do the same? I suspect it is because they can't, or were offered funds at a usurious rate.

It's a rare situation where some holders want to fight to get less for their investment, yet here we are. Delusional...

Holders still retain ownership of the combined entity with the upside included, the merged tenements, and the recapitalisation that someone else is willing to pay for. If 2.8 for 1 is genuinely cheap, then hold out for an increased offer by all means, but you're not going to get one if the SGI price stays at 25% under the existing offer.