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MagIndustries Corp MAAFF

MagIndustries Corp is engaged in development and exploration of potash salt deposits. The company has two business units: MagMinerals and MagForestry. It is primarily engaged in the financing, developing and placing into production or operation of the projects such as potash plant, a potash exploration and eucalyptus plantation and chip mill. Geographically all the operations are functioned through the region of Canada.


GREY:MAAFF - Post by User

Bullboard Posts
Post by zeekayon Mar 26, 2011 11:40am
470 Views
Post# 18344843

"A Sale of Company Assets"

"A Sale of Company Assets""Transaction" is defined as atransaction or series of transactions in which one or more persons orentities acquires, directly or indirectly, at least 33 1/3% of any ofthe shares, assets, revenues, income or businesses of the Company orotherwise gains control of the Company by way of an offer to acquireoutstanding shares of the Company or otherwise, a sale of all orsubstantially all of the Company's assets, any merger, amalgamation,plan of arrangement, reorganization or other business combination, theissue by the Company to one or more other persons of securities of theCompany in numbers sufficient to constitute an acquisition of control,or any acquisition of control of the Company, directly or indirectly.

This was not the plan before, according to Knut.

Now, Knut was not on the press release and IMO gave misleading information to investors about the direction of the company.  Coincidence ???? 

If TSC was going to give $160 million for 55% of the company, is it not fair to attribute a value of, let's day $250 million for the entire company???  A break up value is worth
.55, not really factoring in any of the hydro payments or the potential value of the three potash properties, one of which has an inferred resource on it and another one with a technical study being released shortly.

If the company was sold off at
.55, BMO would make $625,000 in the warrants deal, plus any additional shares they acumulate (Significantly more money) leading up to any potential deal.  That seems like small change to BMO, and they must see a price tag in the $.70 plus range.

Any asset sale that brings in anything north of $.45, I am voting yes....  I am sure the nearly 9 million shares traded today wouldn't have a problem with a triple on
.15 in a matter of two months.....
Bullboard Posts