Arcan Resources Ltd ARNBF

We got robbed

[ExtremeSkiing]

Someone please start a class action lawsuit. Talk about a case of misrepresentation.

[iroctsxv]

This post has been removed in accordance with Community Policy

[teevee]

You haven't been robbed until CPG votes this deal down, and then the bank calls the line of credit, putting ARN into bankruptcy. Then you will be robbed because equity will get zero and debenture holders might  get as much as 50 cents on the dollar. 

[pjn0987654321]

I am new to ARN.  What price did CPG buy at? 

[pennydredful]

5.50

[pjn0987654321]

5.50? Wow.  Would it make sense though, for them to vote down this deal?  They have lost a lot but why lose the rest? 

[teevee]

It makes perfect sense for CPG and Legacy to vote this deal down, provided they have a deal with ARN's lenders to buy the assets. In this scenario, once voted down, the bankers would call the line of credit, pushing ARN into bankruptcy. I expect the assets would go for less than prevailing market prices, but for more than bank debt. In this scenario, any funds over and above repayment of the

[pjn0987654321]

Interesting.  At this point, their shares are mostly a write off anyway. 

[jacek99]

Yeah, they could vote it down. That being said, can both CPG and LTS agree on how to divide the land in the event the bank was to foreclose on the assets? If each want it to themselves, it could be interesting. Along with that, there could somebody lurking that can throw an offer of $0.60-$1/share, that would have enough votes behind it, where CPG and/or LTS votes would not be enough to stop it