This is how I see it regarding the in specie distribution of the...

This is how I see it regarding the in specie distribution of the Leo Lithium shares.

What we already know:
1. FFX wants to retain 20%of LLL.
2. FFX has set aside $10m for the subscription of LLL shares to make their holdings 20%.

Assumptions:
1. There are 300m shares for LLL.
2. 1/6 (16.67%) is retained by FFX from the distribution. This means FFX is alloted 50m shares.
3. 4/6 (66.67%) or 200m LLL shares will be distributed to all shareholders. With 1.21B FFX shares available, this means FFX shareholders will receive 1 LLL share for every 6 FFX shares owned.
4. 1/6 (16.67%) or 50m shares are available for subscription. FFX will need to subscribe to 10m shares to make it to 20%. This means each LLL share is priced at $1.
5. LLL market cap is $300m which means there is a huge upside for LLL when compared to the other various Li players/developers. LLL is likely to skyrocket to $3 if a $900m value is assigned for their 45% of the JV.

This are my assumptions and they may be incorrect. Hence DYOR. GLTAH.