TSXV:CLAS.H - Post by User
Post by
Seagrindon Dec 18, 2019 8:03am
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Post# 30467278
Announcement between now and mid-late Jan IMO
Announcement between now and mid-late Jan IMOWhy? Waiting until closer to March 15 (when Talent payment is due), doesn't leave any time for finalizing the deal (which usually takes months). My understanding is that when the term sheet gets incorporated into a binding agreement, the company must disclose this to the shareholders (after both board of directors approve the agreement). Then the company needs to hold a special shareholder's meeting as indicated above, after which the deal usually closes relatively soon. World Class Extractions, for example, entered into an agreement on April 17, 2019 to merge/buyout Quadron. The special shareholder's meeting was held June 10th and the deal closed June 17th. Assuming a similar time-frame, we should see an announcement sometime between now and mid-late Jan IMO (very soon). However, I still think it could happen this week so they can deal with the debentures due on Friday. If they find other means for financing, then sometime in Jan is likely IMO.