RE:RE:hypothetical RCG+ANX merger 1)
“and assets would be sold to pay off creditor debt”
There are numerous "Restructuring" possibilities.
from the trustee report ..
through one or more transactions, the sale of the business, or substantially all of the business, or a material part of the assets of the Companies considered on a consolidated basis through a sale, merger, amalgamation, arrangement, partnership or otherwise,
2)
“sprott wants cash deals and not interested in shares. Of course they would look at everything, but getting cash back that they are owed is first priority.”
Cashing out is clear and simple objective for Sprott Lending.
Aside from warrants Sprott Lending does not seem to make it equity investments.
I used a generic third party approach in my hypothetical ANX+RCG merger.
3)
from the trustee report
"excluding where the purchaser, merging, amalgamating, arranging party or partner is the Companies’ senior secured creditor or an affiliate thereof"
I read that as Sprott Lending or its affiliates (including Eric Sprott himself) can not orchestrate but can participate in restructuring. Hypothetically, ANX+RCG could approach Sprott Lending for a new credit facility for a newly merged company and could pay-off the old credit facility and other debts.
And Eric Sprott could be investor in the merged company.
Again, I used a generic third party approach in my hypothetical merger.
Notes:
https://www.pwc.com/ca/en/car/resource-capital-gold-corp-et-al/assets/resource-capital-gold-corp-et-al-014_021519.pdf