First Uranium Corporation T.FIU

If you look at the numbers closely again !?

[elml]

Did I read it right? the monney left for distributing to shareholders out of these transactions completed is only 25.4 million.!!!

405 minus 167.7 minus 147.7 minus 36.6 minus 23 ( which is the cost for effecting the transactions!!)= 30 million (to be held in escrow account)

from this 30 million held in escrow account when released after transactions completed, then minus 4.6 million to debentures holders, then come down to the balance of 25.4 millions to be distributed to 268 millions shares holders will come to only 9.5 cents per share ???, and providing there is no claims by AGA and  Gold One.

did I read it correct????

Pro forma use of proceeds

Upon completion of the AGA transaction and the Gold One transaction the company will receive an aggregate of $405-million in cash at closing of which $30-million will be held in escrow accounts. The company expects that it will make the following initial payments to security holders from the proceeds received on the closing of the transactions, after deducting approximately $23-million in operating and transaction related costs: notes debentures shareholders $167.7-million (U.S.), $147.7-million (U.S.), $36.6-million (U.S.).

These amounts are approximate and subject to change due to, among other things, currency fluctuations (conversion rates for the above dollar values were based on the Bank of Canada noon rate as of March 1, 2012), results of operations and the repayment at closing of the transactions of any amount drawn under the loan facility. These amounts include retention and severance payments, payments owing to Vulisango (Pty.) Ltd. upon termination of the management agreement with Vulisango dated Aug. 25, 2011, payments in respect of interest owed on the notes and debentures and payments to financial, legal and other advisers.

The balance of the funds held in escrow will be disbursed following the release of the escrows. Assuming no claims are made, the amount available for distribution will be $30-million which the company intends to distribute as soon as legally permissible as follows:

Debentures shareholders $4.6-million (U.S.), $25.4-million (U.S.)

[colt451]

No that's wrong lol, at this point it's a minimum of 0.15 and max of 0.25 I believe. But I'm not sure because there is 0 transparancy. We are getting shafted though make no mistake. 

[colt451]

I should have been more specific...if you look closly you see initial payments of 36.6 to shareholders, and later, 25.4 to shareholders from escrow, + if you look even closer at other NR's the company says that property assets apart from MWS and EZ will be liquidated and given to shareholders, but I have no idea what they are talking about...were they working on other tailing dams that were

[al182]

Look at the post on minning weekly and you  will understand my friend. 62 million left to shareholder by 237.8 million s/o is .2608 cent a share ,already this is very little DEAN is not real good but not a dumb like you think at .09 cents.lol

[elml]

Thanks colt451 for your clarification !

[colt451]

They should also have 27 mil in assets, and 10 mil in cash it was the financials they released mid feb. So even if we assume 20 mil in assets, we are optimistically looking at 80 mil/237 mil -> 0.33. I was also re-reading the bridge loan, the mid Feb. NR says that they are getting the bridge loan to deal with potential costs...so perhaps we still have 10 mil cash on hand as we were supposed to,