97.25% OF THE NEW COMPANY CONTROLLED BY EXISTING E Following the Arrangement:
(a) all of Erdene's North American property interests, consisting primarily of Erdene's 25% interest in the Donkin Coal Project, will be held by Morien, which will trade on the TSX-V under the symbol "MOX". Morien will have an aggregate of 49,255,990 shares outstanding, 97.25% of which will be held by Erdene shareholders and 2.75% will be held by the former shareholders of APM other than Erdene.