Pangaea andEMG Acquisition Update 27th May 2021 I was drawnto...

Pangaea andEMG Acquisition Update 27th May 2021

I was drawnto this release by part 3 of the agreement, that of the options,

Quoted “ Subject to Completion detailedbelow, Empire will own a 100% interest in EP167, EP168, EP169, EP198 and EP305 (collectively, “the Tenements”), located in the BeetalooSub-basin,onshore Northern Territory. Total consideration for the acquisition, aspreviously disclosed to Empireshareholders, will be:

•$6.061million in cash (to be funded from existing cash at bank); •169,696,970ordinary Empire shares, of which 66,666,667will be escrowed for 12 months from the date of issue and 88,348,485willbe escrowed for 24 months fromthe date of issue; and

•9,696,970optionsto acquire ordinary Empire shares at $0.70 per share which will expire in 3 years after their issue date.“ end of quote

To me it appears that bothparties agree that the value of ordinary shares will be 70c within 3 years?

Am I missing something?