Lightstream Resources Ltd. LSTMF

definately uncertain. Shareholders obviously get nothing.

[reefsandals4eva]

https://www.mccarthy.ca/pubs/CCAA_as_an_M&A__Article_(Taplin).pdf

[afficheholderon]

definately uncertain, what do you mean by that, reefsandals4eva?

[wizthewiz]

Thank you for the link. So who, if anyone is obligated to explain definitively and in plain language to the shareholders and other stakeholders what they can expect to receive from this transaction?

[reefsandals4eva]

an accountant would be the best bet. the monitor's report made it pretty clear they're not accountants. We're all minority shareholders so unless the asset purchase agreement only went through because of what the proposal agreement was, in my opinion the only thing protecting shareholders is the court system. With all that being said, I wouldn't want to bet against the shareholders

[Pancho2]

Plain language. The Ad Hoc Committee and the Company made a Support Agreement (13/07/16) to sell the Company ( included an offer for old Shareholders to receive 2.25%  of the  new restructured Company) under the CBCA The Unsecured Noteholders did not agreed to what was offered to them, so the  Ad Hoc Committee made a Credit Bid under the CCAA . The Credit Bid was the same

[reefsandals4eva]

I agree with you, but there's one question I have for you that I can't find the answer to. In the agreement shareholders voted on wasn't there warrants to buy? How would you do that if the company that purchased LTS is private? Maybe what you're saying is that 2.25 percent is what we are getting and there will be no warrants to buy and the shareholder vote is no longer important

[reefsandals4eva]

@pancho2 I just re-read it (july 16 2016 news release) I think I just figured it out for myself, Those warrants to buy would already be into the money, so they'd just pay them out?

[wizthewiz]

Thank you. The original agreement ws for 2.25 and warrants if I remember correctly?

[reefsandals4eva]

You're forgetting the 7.75 percent of series 2 warrants exercisable between 12.88 and 14.96. They also say they're issuing 100million shares as opposed to 198000.