LITHIUM X ENERGY CORP V.LIX

Lithium X Arrangement Document

[15Stanmore]

Here is what I read in the Arrangement Document under Nextview Financing Arrangements:
 

"Lithium X is a stated third party beneficiary of the Commitment Letter, entitled to enforce against Tibet Summit and Tajik-China on behalf of and in the stead of Nextview".

And under the Reverse Termination Amount:

"payment into court in the event of any dispute".

My understanding is the $20 million will end up being held by the court pending the adjudication of the case Lithium X would bring against the buyer.  That is what an escrow account is intended to accomplish.

[Pivotcatalyst]

it is $20 MILLION and the rest of the loot as per page 24 has commitment letters LIX worse case scenario gets the $20 million and has 45 cents per share

[GoldBug024]

please explain how 20 million dollars for 200Million shares equals 41 cents a share?

[Dtraders1]

@GoldBug40 hum are you sure 200 millions shares? :-)  remember Nextview offer 2,61$ per share up to maximum 265 Millions dollars deal so it's impossible to have that many shares....On TSX website there is a mistake for the outstanding shares for LIX, it's like they double the quantity lol Best is to look in SEDAR  Cheers

[GoldBug024]

ah okay, thanks dtraders :)

[Pivotcatalyst]

you know nothing about the deal or the company they have $20 million as is and will get another $20 or be bought out works out to around 45 cents a share