Iron Brdg Res Inc. OEXFF

So now what?

[aidankj]

So now what's happening? Do we still have a chance to not tender shares and possibly Velvet deal get declined or since the Iron management has agreeded on the deal the chance is slim? 

If I don't tender by the deadline what would happen to my shares?

Someone please advise.

[Gladstone22]

Take the Money and run,

[foothillsdd]

Very good question.  I have not been involved in this situation before and would like input from other shareholders who may have experience with this. Thanks.

[CageyOil]

If you don't tender then at the not yet specified closing date (and the deal is approved by shareholders) your shares will automatically be converted to cash to tune of .845. I think with no trading fee but not 100% on that. There is a theoretical possibility of a competing offer but mgmt is now likely bound by various agreements to not solicit other offers, and there will be break fees I

[black4444]

The thing to do is wait a few days to see what the revised Takeover Circular says about the lockup agreements and break fees.   If there is a provision that provides the opportunity for the lockup signatories to tender to a higher offer from a third party, then that scenario remains a possibility.   Typically, there would be some kind of break fee paid to Velvet in the event the $.845

[black4444]

I suppose I should add there is the possibility of a "bumpitrage "situation emerging whereby somebody acquires a greater than 10% holding in hopes of forcing a higher offer from Velvet.  The 10%+ blocks Velvet from using the compulsory acquisition provisions and would leave Velvet with a large minority and presumeably sophisticated Iron Bridge shareholder and all of the potential

[aidankj]

First of all, thank you for your reply. It was very helpful!.  I am assuming you are also one of shareholders. Can I ask you what are you going to do with your shares? I am thinking "do nothing" at this moment.  Thank you!!