RE:A Well Orchestrated Rip-Off
What do they say here:
In connection with implementation of the CCAA plan, MBAC will indirectly acquire all of the shares of GB Minerals Ltd. ("GBL") beneficially held by Zaff in return for common shares of MBAC at a ratio of 2.5 shares of MBAC for each share of GBL so acquired.
Meaning we indirectly acquire their 56.1% shares in GBL . So the final result is a 93% for Zaff and a 3.6% for us.
Personally, at the end, I see this: A value of a soon full productive plant that have a total asset of 420M with 80M debt. So 420M 80M = a total capitalization of 340M Plus, the value of an additional 56.1 % of GBL that is considered a world class phosphate mine. For a total of 360M together, where we still own 3.6% or 13M If 100% = 360M Then 93% = 335M And 3.6% = 13M 13M for our shares still give us 0.07/share