The JV consists of Kinetiko and Badimo.
Kinetiko are buying Badimo out of the JV with the share placement which will take the total shares on issue to 1.2b. They are more than doubling ownership as a result of this deal, which also greatly assists on the financing front.
Not sure about escrow and I don’t think any 3rd parties are owed anything.
The only other thing I’ll mention is that the issue of shares to Badimo for their acquisition is less a $6.5m amount which they owe Kinetiko for works done to date. Those shares will be sold to sophs.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-11
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Mkt cap ! $113.1M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100000 | 7.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.3¢ | 4790 | 1 |
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