Weasle words. The key phrase in the agreement was "........ without the approval of the Vetas Spinco board of Directors. "
My understanding is that Batista has only one Director on the Vetasspinco Board and is therefor easily outvoted AFTER the initial deal is consummated. I suspect that expecting $3 to swing the Board in Batista`s favour is a risky bet and gets even riskier the longer the Spinco (and CB Gold) keep drilling.