Notice of special meeting receivedIt appears that there is some arm twisting regarding dissenting votes a simple against may result in the buy back of your current XRC shares as they will be cancelled on issue of new common shares.
Exeter plans to cancel the present shares and issue new XRC shares and class B shares of Newco (Extorre gold mines). It's very difficult to cover here as the notice of special meeting is at least 100 pages long.
It's noted that as yet Exeter has not obtained approval to list Extorre on any Canadian Exchange nor US Exchange that includes the OTC QX although applications have been made to all, and Extorre shares could be very volatile more so than Exeter's, and there is no market yet for those shares.
It's not clear what the effects these moves will have upon our investment. In effect it's a stock split in one way and it could have a negative effect in the short term on XRC's new shares.
Until the new company gets going on it's objectives and gets some positive news out. ' Newco' ( EXTORRE) states in appendix "I" it will need more operating capital and that means a trip back to market at some point.
There will of course be some repositioning of the value of XRC shares once this repositioning of it's current assets comes into effect.
My opinion only.
Opinions Please an open discussion would be appreciated.