Sale would see Nemaska Lithium emerge as new entity This bid is conditional upon approval under Canada’s Competition Act and court approval. If the approval goes ahead, closing would be expected by Oct. 15.
after closing, Residual Nemaska Lithium would present a plan to its creditors regarding the residual cash and assets held by the entity. Based on the terms of the bid and the consideration, “
holders of the corporation’s common shares will not receive any payments for, or distributions on, their common shares in connection with the CCAA proceedings, nor will they hold any interest in New Nemaska Lithium following the completion of the plan of compromise or arrangement.” this not a sale of the assets of the company to the highest bidder
. sell the assets and pay the creditors
divide what s left
the survival of the company is not any more the most important goal to pursue for the board ,
the compensation ot its owners is .
you sell and share the proceeds to the owners after having paid the secured creditors .
that s their true mandate .
we don t give a hoot about nmx survival any longer