RE:TourchlightI would strongly recommend folks go and read the plan of arrangement between TRCH and MMAT. The current share price of TRCH - N includes their current oil and gas assets. TRCH WILL BE SELLING ALL OF THOSE ASSETS. The proceeds from those asset sales will be distributed to the current shareholders of TRCH, OR spun out into a new separate entity. Once the merger is finalized, THERE WILL BE NO O&G ASSETS on the new entity's balance sheet. Therefore, you must subtract the value of the O&G assets from TRCH's current share price.
Now the plan of arrangement covers much more detail, and touches on a wider range of items, but suffice to say...go read it. and go look at the webcast presentation ....all available on TRCH's website