Estimated Minimum IPO PriceAssumed $100 milllion CAD equity raise= $75 m US
Persisrence shares........10 billion
MJS .....owns 94 %
Another......6%
Post equity raise .....MJS 50.5% ( 50+ per cent restriction )
Another .....".....................3.5% ( ditto )
Total ownership post equity raise ......54%.
Number of shares available for IPO. 4.6 billion
100 m / 4.6 billion = 2.3 cents per share.
Shares post IPO = 14.6 billion