i've been trying to work it out, but I think the conclusion is the apportionment of the shares to EPM (retained) / EPM (distributed), will be asymmetrical. i.e. ($15M / $10M) + $10M IPO + Options. The way the announcement was roughly worded is it is all subject to change. Note before it was ($15M / $15M) + $20M IPO (no-options)
You would want to have the options issued out to individual holders. But I don't think it will be kept on one single expiry date. Might be moderate expiry (1 year), and a long dated expiry. (i.e. what use will it be if EPM retains a stack of options); unless they are in-specie distributed at a later date lol).
But the absurdity is the 20 cent IPO price, and let's say something like 50 cent+ exercise price of the options could be pretty funny. It's unlisted so won't vary at all, so with the "slowly" rising uranium spot, and trigger points being Russian-Uranium sanctions, and NYSE listing of SPUT, - the options could be a good way to lock in the exposure.
EPM Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
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