Guys Read this Price protection for Pala -Smart mo Nevada Copper Corp. (NCU-T C$3.53)
Mark Turner, MBA, P.Eng. - (416) 863-7484
(Scotia Capital Inc. - Canada)
Purchase of 46M Mercator Shares Complete - Price Protection Provision Included
Event
¦
NCU announced on October 9, 2012, that it has completed the purchase of 46.0M common
shares of Mercator Minerals (ML) from Pala Investments (Pala) under the Share Purchase
Agreement.
¦
Early warning reports were posted with SEDAR today. Included in the Share Purchase
Agreement is a two-year Price Protection provision where, if NCU announces and
completes the acquisition of ML (either by asset purchase or by commons shares), NCU is
to pay Pala any excess between the acquisition price per common share and the
~$0.54/share paid by NCU under the Share Purchase Agreement.
Implications
¦
Post closing Pala now owns or controls 43.09% (34.682M) of the