BTR Scuttlebutt Making the Rounds with "Possible" OSK angleSo, long-suffering BTR (and its spinster mill) is looking to raise $10million for drilling and an updated Resource Estimate. In the midst of this, someone "large" offerred them $1.60/share to stop looking (they ultimately deemed the offer too low to accept). The rumours and guesses are flying as to who this was.
How much of this is true, I don't know. Was it KL or someone similar? I don't believe all that much out of the BTR camp, or the people that constantly post about.
But, hey ...FWIW:
Bonterra also wishes to announce that on November 6, 2020, the Company received an opportunistic non-binding letter of intent from a large third party regarding an all-share acquisition of the Company. This unsolicited approach, which has since expired, valued the Company at approximately $1.60 per share based on the parties' relative trading prices on November 6, 2020 and would have required that the Company effectively cease its financing activities, which are necessary to fund its operations, for the rest of the year. Consistent with its fiduciary duties, the Bonterra board of directors ("Bonterra Board") carefully reviewed the unsolicited approach together with legal and financial advisors. The Bonterra Board made an initial determination that the unsolicited approach significantly undervalued the Company and its long-term prospects.