Superior proposal clause if another bids for acquisitionThe Arrangement Agreement includes customary deal protection provisions including a non-solicitation covenant on the part of Goldrock and gives Goldrock the right to accept a superior proposal in certain circumstances and terminate the Arrangement Agreement. Fortuna has a six day right to match any superior proposal. The Arrangement Agreement also provides for the payment by Goldrock of a C$7.0 million termination fee if the Arrangement Agreement is terminated in certain circumstances and a reciprocal expense reimbursement of C$1 million payable under certain circumstances.
Read more at https://www.stockhouse.com/companies/bullboard/v.grm/goldrock-mines-corp#5couCFoW1m26PmZw.99
This section of the agreement may bring further profits to shareholders if another mining interest has been on the fence in acquiring Goldrock and realizes they must up the bid for shareholders.
Keep your eyes open to share price between now and July in the event a biding war takes place.
Best to all longs!