OTCPK:MYMNF - Post by User
Post by
Nazarbazon Mar 30, 2018 5:07am
146 Views
Post# 27807311
QMC acuisition
QMC acuisitionOn 13 October 2017, QMN entered into the Share Sale Agreement to sell its White Range project to Moly for $45 million in cash plus $8 million in Moly convertible notes. Following that agreement, Moly initiated discussions with QMN with respect to the balance of QMN’s assets. These discussions enabled QMN to negotiate what the Board of Directors of QMN considers to be a better position for QMN shareholders. Moly’s cash-only takeover bid is much simpler to execute, and assuming that it is successful, will mean payment by Moly direct to QMN shareholders at A$0.17 per share, with a total cash consideration valuing QMN at approximately A$50.8 million. It also provides a quick and secure return to QMN shareholders with payment by Moly within the payment period specified in the bid documents.