Post by
Dartmam32 on Nov 13, 2024 10:15am
VRB listing
IE management has had recent discussion on spinning out VRB. All discussions are just preliminary in nature, but this is how it could work.
VRB has approx. 310,000,000 shares. They would consolidate the shares on a 10 for 1 and list the shares. At the same time as the listing they would issue about 30 million shares at $10. This would have VRB sitting with about 61 million shares and about $300 million dollars in the bank.
SRI owns about 31 million shares. that would be reduced to 3.1 million shares at about $10US. That would work out to be worth about $42 million Canadian dollars.
VRB hope to have the shares trade up to $15 within one year. If Mr. Barker does not sell, that would be worth a wopping $63 million. That would work out to about 40 cents for SRI shares in cash. Lets hope that Mr Barker is patient.