Ann: Merger Presentation, page-317

Hi RhysT
… considering I have been scoffing at the idea RCF VII was interested in taking the merged companies private my curiosity was piqued when I discovered the RCFA corp had been set up (by or via RCF 7!!) to focus on new energy buy outs etc and was merrily trading without yet purchasing any asset although a single target - a “business combination”- had been identified.

Spoiler : Revisiting some info on this

As I read it, in regards the ‘single target’ The April 28, 2003 quarterly* wrote that if the deal was not done by May 2023, then the special acquisition fund would be liquidated?
… But then there was a special meeting and the date was extended to May 2024.

(So FWIW it had $234,600,000 ready to spend, plus $11+million from a private source ….and either there or elsewhere, I read it had approval to borrow $5 million.
Which gives close to a quarter of a billion US dollars all up?)

From the April 2023 quarterly;
*https://www.advfn.com/stock-market/NYSE/RCFA/stock-news/90903208/quarterly-report-10-q

… “The Company has incurred and expects to continue to incur significant costs in pursuit of its acquisition plans. ​

The Company anticipates that the cash held outside of the Trust Account as of March 31, 2023, will not be sufficient to allow the Company to operate until May 15, 2023, the date at which the Company must complete a Business Combination.​

If the Company is unable to complete a Business Combination by May 15, 2023, then the Company will cease all operations except for the purpose of liquidating…” ​

Is it the junior vanadium companies near Meekatharra WA that this fund was set up for?
No I think not.
Shareholders (of AVL?) would surely have been informed if a non binding offer of intent to buy from RCFA had been signed with someone last March 14? [as per highlighted section in earlier post here].

(And if the conspiracy theorists want to believe it WAS signed but the leaders have kept it secret then they can chew over the fact that the money that seems to be available - up to US$250,000,000 - is a good sight more than the $217,000,000 Australian valuation of the proposed merger; so RCF7 probably won’t be trying to run the price down !)


And as you say if such a deal was even remotely on the table, then surely it would impact all other expected events!

cheers