GREY:LBEFF - Post by User
Post by
ExSudburyGuy2on Apr 14, 2009 1:07pm
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Post# 15916642
Financing?
Financing?I had to laugh when I read the headline on Liberty's press release.
"Liberty Mines arranges $30,000,000 financing with Jilin Jien Nickel."
Ummm... I don't think so.
Wouldn't a more accurate headline be:
"Liberty Sells Controlling Stake to Jilin for $30 Million."
Either way though, LBE shareholders are stuck between a rock and a hard place.
On the one hand, you're a minority shareholder in a company now. That's a negative and you'll have to live with the discount on the share price that carries. And you may be sitting around watching JJ do a squeeze out to take the company private.
Of course the other scenario isn't much better. File a complaint with the TSX, demand a vote on the transaction (which the TSX would pretty much have to agree to after being slapped around by the OSC in the Lundin deal), and then watch the company go bankrupt.
Not a good choice.