TFS stick consolidation - clarificationFolks, do not read the LOi as those numebrs are not directly relates to the actual stock price. Here is the answer a friend on the forum receiced directly from tfs:
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1. TFS shares will consolidate 200 to 1. So if the share price is 0.07 cents when it consolidates, you'll own 1 share worth $14.
2. Telferscot Resources will buy out Canntab shares at a rate of 4 TFS shares to 1 Canntab share. This has NOTHING to do with our TFS shares. It's how Telferscot is acquiring Canntab. Here, 1.6.1 is most likely correct about Canntab wanting to use TFS to go public. Read his/her post.
3. Canntab will raise $5 million by issuing 1,250,000 of their own shares much like a PP (possibly even a PP). The $4 price is set to attract investors and does not reflect the actual share price. It's usually set lower so investors will earn their money back. Again, this has nothing to do with our TFS shares but a condition of acquiring Canntab.
4. The 24.4 million shares resulting is a combination of the existing TFS shares (consolidated 200:1) and the acquired Canntab shares.
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