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Alexandria Minerals Corp is a Canadian based gold exploration and development company. Its project consists of Orenada, Akasaba, Sleepy, Manitoba and Ontario properties together with the Other Quebec properties. It is mainly focused on exploring the cadillac break property which is located in Val-d'Or, Quebec. The cadillac break property consists of approximately 21 contiguous projects of over... see more

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Alexandria Minerals Corp > How fast is the clock ticking?

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Post by Myrtlesman on Jul 02, 2019 8:25am

How fast is the clock ticking?

On June 27th, AZX received the improved Chantrell bid. Somewhere buried in there was a 5 day clause for closing/other bids. Is that 5 days really five days (in that case the clock expires today), or is that 5 business days, which together with the weekend and Canada Day, expires on Friday, July 5th?

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Comment by mal297 on Jul 02, 2019 8:40am

5 business days. Which means July 5 deadline.

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Comment by DaGeneral on Jul 02, 2019 12:40pm

Myrtlesman, As I read this, the 5 day period refers to O3's right to match any competing offers, should the BOD receive one and deem it superior to O3's proposal. In other words, if AEM comes back and bids .10 per share, O3 has 5 days from the time the Alexandria BOD accepts AEM's bid to match it. So...the clock isn't really ticking yet...AEM (or anyone else for that matter ...more

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Alexandria Minerals Corp