RE:Merger Question
Okay... I've read the material change report posted on TGIF's cse page and according to this, the term "115 million shares for all of the BAMM shares" is used and the term "purchase price" is used in reference to "$115 million", which it was at the time of the LOI. This being the case, issuing 115 million shares as stated as part of the transaction would result in total shares outstanding of TGIF of about 276 million shares. The acquired asset cancels out the increase in share count. I have no doubt whatsoever of the value of this agreement to each party. Both Joe and Brayden were correct (of course they are) and my question to Brayden may have been confusing and my interpretation of his response not complete. In terms of the effect on share price, it is immediately neutral but the merger results in much bigger capability and upside for both TGIF and BAMM shareholders.