Some dilution considerations.If there was a take out offer or any M&A activity Here is the impact of Orions Warrents.
Orion had 22,520,324 victoria gold shares plus 1,666,667 warrents exersizable @$9.375.
Based on 62,145,000 shares that was 36.24% They sold 17.8 % to Coeurs on May 11, 2021.
They now have 11,452.040 shares or 18.428% of Victoria Golds shares,
There agreement allows Orion a maximum of 19.99% of Victoria Golds shares.
If Orian exersizes their warrents, any excess of 19.99% will be paid out in cash by Victoria Gold.
19.99% of 62,145,000 shares is 12,422,786 - so Orion can only add 970,746 warrents.
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This would be a net sale of 970,746 X $9.375 or $9.100,780 into Victoria Golds couffers.
but at todays prices Victoria Gold would cash out the remaining 695,921 warrents at approximately $6 bucks a share or $4,175,500 that still nets Victoria Gold with $4,925,254 for the excersize of 970,746 warrents. As share prices go up the cash out goes up as well. When Victoria shares are $22.46 then Orion could excersize their warrents for zero cost and get 970.746 more shares. That will be $21.8 million windfall for Orion and a similar stock dilution..
If you don't follow this, fine, it will happen eventully and you can read about it then. Happy Sunday DF