Alternate Deal by Company X On March 9 the BOD of Core approved issuing 8,888,888 shares to Co X for a raise of $4 m C, at share price of 45 cents C, which would have been paid to Core by March 15. And then they would have increased that to $20 m C within 45 days (within the 60 day go shop time frame) , and all they had to do is grant permission for Co X to twin some of the holes that Dynasty had drilled at Dynasty Gold Fields in 2014, to make sure they were accurate I presume, at Co X expense. And after that it was a possibility that Co X would put serious money into DGF, but obviously they would first do a PEA and much more drilling. But the Core BOD3 or BOD4, said no. And so Co X said forget it, hopefully for now only , as one would expect them to. They came with a friendly and good offer, negotiated by Core CEO , and the board basically spat in their faces. And the reason that the Core BOD3 (and I do hope it is 3 not 4- I hope Javier for his and ours sake isn't a part of this)did this is because the contract that they entered with Titan doesn't allow that. Now, first of all why would they possibly enter into such contract. And secondly they haven't. It is total BS that they have a contract with Titan. Sure Sedun and Bailey and Clough have ,verbally no doubt , obviously entered into 'contracts' personally with Titan and those behind Titan , for a very nice payoff of some sort . But there is no contract with Titan. How can there be. Titan has merely proposed a merger agreement. That folks is not a contract in any discription of the word. IF IT WAS A CONTRACT IN ANY WAY WITHOUT SHAREHOLDER APPROVAL OF THE DEAL, THAT WOULD BE HIGHLY ILLEGAL. Don't need to be a fancy securities lawyer to know that. I really am thinking I have grossly over estimated this Core BOD3, which is saying something because I have always thought they are total idiots. And then the Core BOD3 terminated the 60 day go shop, fired Mr Piggott, to make sure no more offers would happen. Anyone still doubt Sedun ,Bailey and Clough are working directly for Titan?
And so the proposed deal we are left with is that Core will give Titan 51.5% of itself to Titan for $20m A (.95 of C) . Titan at this time has zero value and anyone who disputes that sincerely and not because they are being paid to do so or stand to gain from this proposed merger, truly is an idiot. Sorry for the name calling but I do think it is appropriate here. And it is written into the proposed merger, that if it happens , Titan can issue $10m worth of new shares at whatever share price they decide, to give themselves what? a trillion, or two trillion, new shares and dilute the already badly diluted Core shares to basically nothing. And instead of politely accepting the $4 m from Co X, they took $3m from Titan and gave them 9,151,363 shares, and then the total kick in the nuts for Core shareholders, they promised to pay it back if the deal gets voted No, but they can keep the 9,151,363 shares for free. I wonder if Sedun, Bailey, Clough get the payoff either way, Yes or No? Perhaps a sliding scale.