I think it's more likely to be 1 for 12.5 as the in-specie share allocation.
Fully diluted, FFX has 815m shares, and a 1 for 12.5 allocation of in-specie shares in the new Lithium company equals 65 million shares.
Then they will probably do an IPO, creating something like another 50m shares @ 20 cents for $10m dollars.
With some shares and costs also being given to the brokers for running the spin-out and IPO, the new company is likely to start with over $9m dollars in the coffers and (approximately) 120m shares on issue.
Like everyone else though, I'm only just guessing.
It will be interesting to see what eventually transpires here.
Gw
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I think it's more likely to be 1 for 12.5 as the in-specie share...
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