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First Uranium Corporation T.FIU



TSX:FIU - Post by User

Comment by colt451on Apr 19, 2012 1:27pm
126 Views
Post# 19813031

RE: 10 million

RE: 10 million

No...the 10 million credit facility has always been deductible from the sale price of Ezulwini. In turn, because the Ezulwini sale price drops from 70 million to 60 million, the 10 million credit facility is deducted from the Pro Forma Proceed payout, which is reduced from 36.6 million to 26.6 million. This means that currently the initial shareholder compensation is 0.11/share. However, the NR released today states that the Pro Forma Proceeds are subject to change, so the 26.6 million may be further reduced in the future. 

There is also the escrow fund, which is roughly 25 million. However, it cannot be distrubuted until December at the earliest. If however there are any claims against either MWS and EZ (such as class action suits), then the escrow fund cannot be distrubuted until the claims against the asset is settled. After the claims are settled the resulting funds will be distrubuted to shareholders. This can be anywhere from 0.0-0.11/share. 

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