GREY:NEVDQ - Post by User
Post by
rickwayne1982on Aug 11, 2024 1:23pm
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Post# 36173532
Failed change of control proposals
Failed change of control proposals Hmmmm why wasn't this proposal ever accepted back in 2022? There's a string of change of control proposals that couldn't be agreed upon over the years... The only viable solution here is to have an outright sale. Nevada Copper isn't short of any interested parties... but with so many parties interested in the assets, make sense to have a bidding/Biden process overseen by the courts... change of control proposal October 2022 - the Company has been discussing a non-binding term sheet proposal received from a third-party strategic investor for a separate investment that would be implemented following the Restart Financing Package. This transaction, if implemented, would provide additional funding and result in a change of control of the Company (the “Change of Control Proposal”).
In connection with consideration of the Change of Control Proposal, the Company is in discussions with its various financing parties to complete the Restart Financing Package as soon as possible. This will allow the Company additional time to evaluate, negotiate and, if appropriate, finalize the Change of Control Proposal together with the implementation of the Restart Financing Package. If agreement can be reached on the Change of Control Proposal, such a transaction together with the Restart Financing Package is expected to provide the Company with new financing resources sufficient to complete the restart plan through to positive cashflow.