16% of the equity for most of the assets - 15m @ .23
Immediately following completion of the Amalgamation, based upon certain assumptions including completion of financing through the Equity Financing of a minimum of approximately US$15,000,000 at US$1.50 per Maha Share and a Bond Issue of a minimum of approximately US$55,000,000, an aggregate of 55,338,187 New Maha Shares will be issued and outstanding, with the Maha Shareholders and Palliser Shareholders anticipated to own, on a nondiluted basis, 46,351,304 (84%) and 8,986,883 (16%) of the outstanding New Maha Shares, respectively