AvenEx Energy Corp AVNDF

New CEO -same song

[linus4]

Back a little over a yr. ago Tom Buchanan as CEO of Charger lead a deal to merge 3 other small cos. into one along with Charger. At that time Charger was trading around .80 cents & he explained the strategic business combination would" enable them to grow shareholder value"(note: a yr. & a half have passed by & shareholders have lost approx. 57% as  the debt was piled on)..What will be different this time?He now states this merger creates a better opportunity & more solid dividend paying corporation which will create long term value for shareholders..With the sale of Elbow River, wouldn't AVF be basically debt free & able to enter into a favorable new line of credit to grow their asset base without this merger?Since CHX was stumbling under their debt load , maybe AVF could have taken them out at a better exchange ratio..Also, I can understand Pace getting a sweeter deal than AVF , with Tom Buchanan being on Pace's board but this does not explain why AVF management 'appears' to have been 'had' both on the sale price of Elbow & the proposed merger ratio..Both deals seemed to be done in desparation as the AVF sh price has dropped from $6 to $2.65 in past 2 yrs..To date I have had no response from the co. on a few questions posed regarding this merger & it seems the mkt is also puzzled ...