Organic Potash Corp C.OPC

RE: RE: Apparently the Globe thinks we are Lucky

[Giverbullets]

Last time I talked to Krista we were still stake holders;

"

(c) Notwithstanding Sections 9(a) and (b), the Company shall not be prevented from

receiving any proposal for a refinancing, recapitalization or other extraordinary

transaction from a third party and negotiating such proposal with a third party if

the Board, on advice of its financial and legal advisors, determines that such

proposal would reasonably be expected to result in a transaction more favourable

to the Company and its stakeholders and no less favourable for the Noteholders

than the Recapitalization (including, without limitation, full payment in cash by

the Company of the aggregate amount of Debt in respect of the Notes) (a

"Superior Proposal"). In the event the Company receives any proposal from a

third party that the Board believes may constitute a Superior Proposal, it will

promptly notify the Noteholder Support Group of the terms thereof, including the

identity of the proposing party(ies). In the event that the Board, after consultation

with its financial and legal advisors, determines in good faith that it can no longer

support or recommend the Recapitalization, the Company shall promptly (in any

event no later than one (1) business day following such determination) so inform

the Noteholder Support Group (including as to the terms of any such proposal that

the Board has determined is a Superior Proposal) and the Initial Backstop Parties

shall have ten (10) business days to propose an alternative to the Superior

Proposal that is of comparable value to the Company and its stakeholders and no

less favourable for the Noteholders than the Superior Proposal and, at which time,

the Company shall commit to and pursue such alternative proposal."




By the way, whatever happened to our shareholder rights protection plan, developed in 2006?  I never could get my hands on that.

Giver