Nemaska Lithium Inc NMKEF

RE:bid is not yet accepted by court

[Calgary_AB]

A few things are clear:

1. There will be a newNMX and oldNMX
2. Shareholders will have no part of newNMX
3. Shareholders will get the cash and assets noone wanted. The cash left more likely will be zero after they pay the secured creditors.
4. oldNMX will not have any considerable assets (claims, patents, or machinery) to continue mining...so it will be a zombie company with 800 million shares that do not trade and does not build anything.

one of the Longs here said you might get together and issue more shares and with the new money invest it on the market...LOL

Tcheck wrote:
Sale would see Nemaska Lithium emerge as new entity

This bid is conditional upon approval under Canada’s Competition Act and court approval. If the approval goes ahead, closing would be expected by Oct. 15.

after closing, Residual Nemaska Lithium would present a plan to its creditors regarding the residual cash and assets held by the entity. Based on the terms of the bid and the consideration, “holders of the corporation’s common shares will not receive any payments for, or distributions on, their common shares in connection with the CCAA proceedings, nor will they hold any interest in New Nemaska Lithium following the completion of the plan of compromise or arrangement.”

this not a sale of the assets of the company to the highest bidder .
sell the assets and pay the creditors
divide what s left
the survival of the company is not any more the most important goal to pursue for the board ,
the compensation ot its owners is .
you sell and share the proceeds to the owners after having paid the secured creditors .
that s their true mandate .

we don t give a hoot about nmx survival any longer