Valuation vs Nevada Gold & Casinos: $0.59CAD+I don't know where you guys get 0.45/share from unless you mean 0.45 USD. 0.45 CAD would be much lower than the Nevada deal.
Nevada Gold & Casinos: "The sale price is equal to approximately 8.5X EBITDA for Club Fortune for the trailing twelve months ended April 30, 2018."
An 8.5x EBITDA would be ~0.59 CAD/share before you account for the cash. Nevada Gold & Casinos was a much smaller deal also.