Interesting - just looking at the terms of Mega's Big Mack deal: http://au.advfn.com/news_Pacific-Iron-Ore-Corporation-Announces-Agreement-to-Sell-Non-Core-Assets_43034297.html
" The Agreement contains provisions for the issuance of additional Mega Graphite Shares to the Corporation in the event the price per common share of Mega Graphite does not reach $1.11 per share within 30 days of Mega Graphite completing its going public transaction. Additionally, if Mega Graphite does not complete its going public transaction before May 19, 2011 the parties have agreed (a) the 21 mining claims will be returned to the Corporation and (b) the 900,901 shares of Mega Graphite will be transferred back to Mega Graphite."
Mega equity would have been diluted had the IPO not realised $1.11 but it probably doesn't matter as the deal was due to lapse if Mega didn't IPO before May 19, 2011.
They really don't appear to have a good track record of closing deals on time. Anybody know if it actually proceeded?
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