Post by
MoatsInvestment on Jun 22, 2016 12:14am
Everything for the deal is headed in the right direction
[BNK QUOTE] "Everything for the deal is headed in the right direction despite the fact that the share price continues to hover around $2.00. The shareholder vote went well with over 97% of the participating vote voting in favour of the transaction at the Special Meeting. We are now awaiting two regulatory approvals, one of which is Investment Canada, which is expected to come through this week. The other which is SAFE, People's Republic of China foreign exchange approval, it's also expected in the coming weeks but doesn't offer quite the same guidance on the timing, so we're less clear about when that will come through. Both Bankers and Geo-Jade are doing everything we can to push through a timely close still expected in the coming weeks. As soon as we have any further updates we'll be sure to notify shareholders through a press release." GLTA
Comment by
MoatsInvestment on Jun 22, 2016 7:13am
Well... My message anticipated this press release. Another insider information: the funding o the deal is guaranteed by 9 PEFs, even if one of these PEFs fails, we have a letter of guarantee from the Bank of China.
Comment by
MoatsInvestment on Jun 22, 2016 1:27pm
Private Equity Fund. JeoGade received commitment of financing from 9. (+ letter to guarantee from BoC). The only (minor) hurdle is SAFE approval (i.e. Chinese authority).
Comment by
1condor on Jun 22, 2016 6:45pm
Stock will likely hang in around this level...maybe a couple spikes to 2.10...before the Chinese approval.