RE:RE:RE:RE:RE:RE:RE:Quebec minister confirms Quebec has cash set aside to settleHere is the arrangement, from what I understand. We get 1 common and 1 preferred for every 12 common of PEA.
Agreement: (a) Ptrolia shall declare and pay a dividend to its shareholders by way of the issuance of one (1) Ptrolia Preferred Share per issued and outstanding common share of the capital of Ptrolia ("Ptrolia Common Shares"); (b) the issued and outstanding Ptrolia Common Shares shall be consolidated on the basis of one (1) post-consolidation Ptrolia Common Share for every twelve (12) pre-consolidation Ptrolia Common Shares; (c) the issued and outstanding Ptrolia Preferred Shares shall be consolidated on the basis of one (1) post-consolidation Ptrolia Preferred Share for every twelve (12) pre-consolidation Ptrolia Preferred Shares;
On, and because of, the amalgamation of Ptrolia and Pieridae under the Arrangement: (a) each issued and outstanding consolidated Ptrolia Common Share shall be cancelled and in consideration therefor the holders of consolidated Ptrolia Common Shares shall receive one (1) fully paid and non-assessable common share in the capital of Amalco ("Amalco Common Share") in respect of each one (1) consolidated Ptrolia Common Share so cancelled; (b) each issued and outstanding consolidated Ptrolia Preferred Share shall be cancelled and in consideration therefor the holders of consolidated Ptrolia Preferred Shares shall receive one (1) fully paid and non-assessable preferred share in the capital of Amalco ("Amalco Preferred Share") in respect of each one (1) consolidated Ptrolia Preferred Share so cancelled;