Cascadia Minerals Ltd V.CAM

A fair exchange would have given us more shares

[silvereagle80]

1/1/2 months after the LOI was issued Atac and Hecla came out with how they would absorb ATAC in the Hecla Corporation.  It sounds so good when you read the printed statement.  An ATAC shareholder might have a different view?  Say you owned 100,000 shares of ATAC.  On Feb 20th Hecla was trading at $5.06  and you would receive 1,972 shares of Hecla stock for your 100,000 shares of ATAC.  With the LOI, the atac share price was frozen at $.10. per share USD.   Since the date of  the LOI, Gold has increased 10% and Hecla stock has increased 20%. Your ATAC shares were frozen and could not increase  Today they announced that 1 share of ATAC stock was worth .0166 or your 100,000 shares worth equivalent to 1,666 shares of Hecla by their method of calculation.  Thus, you were screwed out of the recent gold rise  at a cost of 306 shares or over $2,000 per 100,000 shares. Hecla shares benefited only about $.02 per share by this short changing ATAC.  It cost ATAC shareholders 30%.  (Hecla's market cap is 65X higher than ATAC'S). In the future you will never have those 306 shares of Hecla to enjoy increases in stock prices or eventual sale of the stock.  I would have hoped our Board would have insisted on the Feb 20th LOI stock price being the conversion price which meant a couple pennies per share to Hecla but 30% less to ATAC shareholders than they were expecting based on the LOI. 
Do we get to vote on this?

[Pandora]

Did you send this comment directly to the ATAC board and/or the CEO of ATAC? If not, you probably should -- not that it will have any effect.

[Heywood_Silvers]

Oh, I have contacted Graham.  At best this was an oversight.  At worst this is sneaky manipulation by Hecla.  Either way, it needs to be corrected and I requested such. It is not too much to expect that party to this merger treat us in a fair and transparent manner.  Neither party should've been subjected to market swings in the interim between the prposed merger and

[barringtondolby]

Heywood it seems you cannot say a negative word about Downes.  To blame Heclal, while ignoring the role of Atac's management in this takeover,  is naive. It was Downes at the helm when we lost the Tote road, and he has never shown any commitment to this company through personal investment in it. He helped negotiate this deal and it will no doubt be very beneficial to Mr Downes when

[silvereagle80]

Barrington dolby   you should also give Mr. Downes credit for being at the helm for most of the $10.00 to $.045 slide in  the price of ATAC stock.Also, if Downes had insisted on the conversion price from ATAC to Hecla stock be on the date of the LOI, we would have gotten 30% more shares of Hecla's stock.   Hecla shareholders benefited about $.02-.03 per share and ATAC

[Pandora]

Seems to be a lot of shareholders bailing at the 15 cent level. Is that a good parting level relative to the offer or is it just about right on where the offer is without having to wait another couple of months for settlement -- particularly for those that don't get stuck with a brokers fee for getting out early?

[givemeabreak1]

Pandora you lost me about the whole stock with the brokers fee lol.  It is 8 bucks.

[Pandora]

Believe it or not -- some people still trade shares through a broker -- not everyone deals online, in fact there are probably people that don't even have online access -- some may even live in the Yukon close to Rackla. A brokerage fee can run at $100 - $125 bucks for those people. Might be surprising but....! No reason to feel lost!

[givemeabreak1]

Pandora even those in the yukon have internet and are as smart as the rest and do not pay any stupid brokerage fees.  Are you saying those in the yukon are stupid?

[Pandora]

.....

[Justiceisneed]

Hi I'm out at 0,15 it smell bad .... good luck with this fool system .