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Gear Energy Ltd T.GXE

Alternate Symbol(s):  GENGF

Gear Energy Ltd. is an oil-focused exploration and production company. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its operations are located in three core areas: Lloydminster Heavy Oil, Central Alberta Light/Medium Oil and Southeast Saskatchewan. The Company is also engaged in focused on improving oil recoveries through the application of water flood technology. The key properties in the Central Alberta Light asset include Wilson Creek, Ferrier, Killam, Drayton Valley, and Chigwell.


TSX:GXE - Post by User

Comment by Webinatoron Dec 02, 2024 11:52am
185 Views
Post# 36340871

RE:My understanding without the prospectus

RE:My understanding without the prospectus

This press release seems a bit confusing. One thing I can't determine is if the agreement equates to 0.607 per share "and" .3035 of the newco or, 0.607 or .3035 of the new co.  

if it is the latter "or" situation, who gets to determine the combination of cash and shares?  

If a shareholder receives both under the "and" scenario, there is value in this deal but it certainly isn't written clearly this way.

In all fairness, who in thier right mind would agree to the "or" situation with a combination of cash and shares?

 

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