RE:RE:RE:RE:another BUY signalParamaYogananda wrote:
I see parallels with 2018/19. There was no insider buying then either. I bought then. Unfortunately missed selling at the right time.
you are right - and we saw coming a big one....
perhaps an overtake is very near...
reread this
So, Bunge has the right to buyout the other Merit partners, who own ~40% of the JV, under certain conditions through a call option. As per above, the "principal intended trigger for the vesting of the Call Option is based on the completion, commissioning and demonstrated growth of Merit's canola and pea protein production facility in Winnipeg, Manitoba". Depending on how Bunge defines "demonstrated growth" this trigger may have been pulled already as (1) the Merit plant has been completed, and (2) the Merit plant has been commissioned. If Bunge exercises this right, then Burcon can agree to sell its stake in Merit at the equivalent valuation paid to the other JV partners, but that is solely Burcon's discretion. Additionally, if Bunge exercises the right to acquire the other partners' stakes but Burcon does not agree to sell, then Bunge can buyout the future royalties owed to Burcon for a dollar amount representing the net-present-value of those future royalties.
source:
Burcon: Partner Bunge's $500 Million To $1 Billion Of Growth Capex Within Alternative Proteins Bodes Well
May 12, 2022 10:30 AM ETBurcon NutraScience Corporation (BRCN)ADM, BG, BYND, DANOY, NSRGY, OTLY, PEP, STKL, UL
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