Mart Resources Inc MAUXF

someone asked what would happen if MW buyout falls apart?

[gibbonsj]

the answer to that is contained in the Fainess statement.  A piece of justification in the opinion supporting the MMT sale was "MMT's ability to continue operations".

[dwtna1]

@Gibbsonj - I asked that exact question during the last conference call (close to the end of the call) and was told by Dimitri that MMT could continue to operate on a going concern basis. He seemed a little uncomfortable with the question but he did answer to the affirmative - that Mart could continue for the foreseeable future.

[gibbonsj]

what they said in the CC does not jive with the fact that payments to lenders have been put off until next year.  Also "foreseeable future" is near term, what about a year out when they have to make good on bank repayments?

[radcat]

If the deal falls apart or 66 2/3% of shareholders VOTE NO, The sp would probably fall but to what degree nobody knows. That being said,  I presume Midwestern has been accumulating shares over the past few months since the share price trades much lower than 80 cents. MW will be suseptible to a lo$$ on their shares should the deal not get done and Marts stock takes a tumble. If Mart's

[bxju]

Doesn't 66 2/3rds of VOTES have to be yes or no deal? The no votes would just have to be more than 33 1/3 of votes is the way I understand it.....to be no deal.

[radcat]

Midwestern needs 66 2/3% in favour of this deal for it to be accepted. Period. Since they haven't announced their financing has been arranged, I am taking it to mean they are having difficulties. If financing was in the bag, they probably wouldn't hesitate to make this publicly known which would set the YES sides mind at ease. If Financing remains a secret up to the end of next week

[bxju]

Was just pointing out that your earlier quote  below was 100% off.  So, if the deal is voted down, where does that leave the share (BAG) holders?  What do you expect the stock to drop to and when do you predict it will rise above .80 again?  Just wondering? "If the deal falls apart or 66 2/3% of shareholders VOTE NO,  Read more at https://www.stockhouse.com/companies

[gibbonsj]

I do not think there is any chance of shareholders not backing the MW offer. The greater risk is MW does not satsify the few remaining conditions that are holding the deal back. We have not been told what those conditions are we've just been told they exist.

[bxju]

I think both the financing and the vote will be announced together. or very close together but with MMT you never know. Obviously, we should know something soon. I think there is far less risk (downside) to shareholders if MW has issues raising the money than if shareholders vote down the deal.  If the deal is voted down and MW really wants control, I think since MW and Nigerian Gov. 

[deweystocks]

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