Post by
Robizounskin on Sep 27, 2024 9:34am
We should have confirmation by next Monday
The Arrangement Agreement provides for customary deal protection provisions, including non-solicitation covenants of American Creek, "fiduciary out" provisions in favour of American Creek and "right-to-match superior proposals" in provisions in favour of CML. The Arrangement Agreement provides for a termination fee of $6,286,125 payable by American Creek if it accepts a superior proposal and in certain specified circumstances. In addition, on or before September 30, 2024, CML will pay American Creek a cash signing fee of $300,000, which funds will be used for working capital purposes in the ordinary course of business (including reasonable expenses incurred by American Creek related to the Transaction). 50% of the signing fee (i.e. $150,000) will be repayable by American Creek to CML in equal monthly installments of $10,000 in the event that the required Shareholder approval is not obtained at the Meeting or the Transaction is terminated due to a non-curable breach of the Arrangement Agreement by American Creek.
Comment by
paydirtontario on Sep 27, 2024 9:51am
For Sale 20% of a world class project Bitcoiners or Major gold producers welcome to bid on this We may be pleasantly surprised
Comment by
BigValuehunter on Sep 27, 2024 10:05am
Why would anyone bid on AMK when it is already subject to a bid and support agreement? They could bid on TUO or TUD and get a support agreement. It would be silly to wade into the Cunningham 3 ring circus (Cunningham Mining, Nugget Trap, CUnningham Natural Resoruces).
Comment by
firestarterm on Sep 27, 2024 12:37pm
That message about sending off to ignore list is in regards to BigValueHunter.
Comment by
BigValuehunter on Sep 27, 2024 3:53pm
I am glad I did not rush earlier in the week to sell AMK and switch into TUD. What a bad week for TUD. Not great for AMK, but awful for TUD. I did start converting some over today. I will be patient.
Comment by
fordster on Sep 27, 2024 6:08pm
Damned well said Firestartem! ...he's a innocent basher...