RAPIER GOLD INC V.RPR

Confusing letters ... WHO is the Shell company of Delbrook

[martinboy]

Very calm here, given the confusing news. Any guess in who might be the Shell company of Delbrook, trying to merge ? On one hand it sounds there are no assets (said by Rapier's board of directors), just debts.
On the other hand, Delbrook says, that it has a 40+ million market cap ?
Anybody still here, any guess on it ?
Can it be NOT.v as Noront, given that the suggested directors are Darren Blasutti and Paul Parisotto ?

[PublicEye]

Good guess. I am confused as well. Idea is to make money and if Delbrooke was going to buy out Rapier at 25 to 30 cents, what is wrong with that. As a shareholder never got to vote on that. Now they are trying a different angle of merging with another company. Delbrooke has a good track record. Current management is negative toward anything regarding Delbrooke. Makes me think only worried about

[martinboy]

Hmmm ... The merger will not be with Noront, because Noront is a shell company. But it will go up ... once the proxy battle is over, because the value is obviously higher than 9 cents. This is clear in all of the news releases.

[martinboy]

Noront is not a shell company. Hence might not be the one the merge with.

[MerchantofTruth]

Delbrook never offered to buy out Rapier. Delbrook proposed a financing offer for $500,000 at 25 cents that had a covenant that restricted the company from raising any additional money from outside sources other than Delbrook. Considering they announced a $2.5 million exploration plan in september 2016 there's a good reason the company rejected it and never brought it to a vote - this was a

[MerchantofTruth]

I did some research based on the info Rapier put in their circular it seems and the shell company is Consolidated Westview Resource (https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00006062).  taken directly from their MD&A: The Company is engaged in the evaluation of new business opportunities and currently has no property or business interests. Management of

[martinboy]

The shell company is just the umbrella. It will be COMBINED with some assets, forming a 40+ million  market cap ? Are those Quebec based assets from FF.V ? This is the main question, not the shell itself, imo. At least this was written in some of the past letters. The shell company is not the final goal ... but just vehicle to combine with other juniors or other properties in Quebec.

[MerchantofTruth]

And thats the big IF. Delbrook didnt allow the company to do any due diligence on these other properties to make sure they are legit or provide information on what they are so how do you know you're not better off with just Pen Gold then with a pile of crappy assets and Pen Gold? FF.V is 500mm+ market cap with assets all over north america. the final goal of 40mm market cap company is suppose