Post by
stockuserid on Apr 18, 2015 12:06am
Arrangement rights - NR Dated 2015-03-04
Under the terms of the proposed arrangement, each Pinecrest shareholder will receive one Virginia Hills share for each 100 common shares of Pinecrest held. Further, each Pinecrest shareholder will receive eight arrangement rights of Virginia Hills for each Virginia Hills share received under the arrangement. Each arrangement right will entitle the holder to purchase one Virginia Hills share for 25 cents for a period of 30 days following completion of the arrangement. To the extent that a holder exercises all arrangement rights granted to it under the arrangement, it will be eligible to purchase additional Virginia Hills shares through the exercise of arrangement rights which remain unexercised by other former Pinecrest shareholders at a price of 25 cents per Virginia Hills share.
https://www.stockwatch.com/News/Item.aspx?bid=Z-C:PRY-2256481&symbol=PRY®ion=C