Post by
newsimon1707 on May 06, 2017 4:55pm
Info...
https://www.northernontariobusiness.com/regional-news/northeastern-ontario/say-ya-in-court-says-cobaltech-605900
Comment by
newsimon1707 on May 06, 2017 5:01pm
As pointed out in the article, Equator was in a sort of deal / negociation with CSK regarding the refinery... probably during the LOI with Yukon... so they exactly knew what was going on and then went to Yukon with probably a better deal and that was surely a breach of non-competitive clause... that's why they are gettting sued!
Comment by
newsimon1707 on May 06, 2017 5:30pm
Equator has 6,4 million cash on hand... right now CSK has 1,5 million... and pretty sure that if they settle this... I am sure the SP will jump so they will be able to finance pretty easily without too much dillution... we would be all set! let's hope they manage to find an arrangement..
Comment by
Goldfather on May 06, 2017 6:08pm
Yep....... got it open. Says EQ agreed to pay $4 mil USD. $5.7 mil Aus , and $250k down payment. Plus tons of stock. Question: sounds a lot. But priceless obviously strategically. Wonder how much CSK Offered ? Yukon only wants the dough, won't care who pays them.
Comment by
Blahblahblahbla on May 06, 2017 8:12pm
There will be some M&A activity in the Cobalt camp. Interesting times coming I do think. May add more and roll the bones.