Sokoman Minerals Corp V.SIC

How will spin out to Vinland Lithium work

[PTBailey]

Anyone know how this is going to work? For example, I have 110k shares, how many will I have if this goes forwarde?

[Makingmoney2011]

110000 divided by 8000 equals 13.75 multiplied by 50 equals 687 shares which should be at $1 per share when Vinland Lithium goes public. Advice, hold these shares for at least a year.

[geezer21]

Holding the shares is sound advice. Currently trading at $12.62 on the Nasdaq Piedmount is currently a producer in Quebec with an interest in North American Lithium the largest lithium producer in North Ameria that reached steady state production in June 2024.  Had a Q1 cash balance of $59 million Piedmont is progressing two other projects. https://www.piedmontlithium.com/

[PTBailey]

Thanks Makingmoney, that is helpful.

[PTBailey]

If it does work out that way and is $1 a share, I am going to take a huge loss with a .06 average.

[Makingmoney2011]

I think you are misunderstanding the spin out. You keep all your Sokoman shares and you will receive 50 shares of Vinland Lithium for every 8000 shares of Sokoman you have in hand at a certain date. It is like receiving a dividend but in stock. Initially Vinland Lithium will only have 10 million shares which will be worth $1 per share on day 1. Piedmont will have 2 million shares, Bex 2 million

[PTBailey]

Tks Makingmoney, yes I was totally misunderstanding it. Got it. Am I correct in thinking that it does not make sense to buy more Sic shares to get more Vinland because there isn't likely to be enough to go around for all share holders to get the share ratio?

[Makingmoney2011]

Welcome PTBailay If you buy more shares of Sokoman than you currently hold, that will mean that for every 8,000 more you will receive 50 more shares of Vinland. The ratio is calculated based on the total number of Sokoman shares outstanding. This means that an investor who sells shares of Sokoman will receive l'ESS shares of Vinland. A date will be determined, at a special shareholders'

[mainerisk]

The brokered flow-through private placement will increase the amount of shares by 37,500,000.  So your ratios will change when you add 37,500,000 new share to the existing 286,781,282 shares outstanding for a total of 324,281,282 shares outstanding.  2,000,000 shares of Vinland to be applied to the 324,281,282 shares.  Divide the 2,000,000 for blocks of 50 shares, it comes out to 40

[Makingmoney2011]

Your calculation is wrong in my opinion. We must divide 324,281,282 by 8000 which gives 40,535 then we take 2,000,000 divided by 40,535 which gives 49.34 so for every 8000 shares of Sokoman that a shareholder owns he should receive 49.34 shares of Vinland. Possibly to round up to 50 shares Sokoman will have a little less than 2,000,000 shares and all shareholders a little more than 2,000,000. In

[crazytimes]

Makingmoney... I agree with your calculations. I think it will likely still be 50 Vinland for every 8000 Sokoman held. Just my opinion.