LI3 Energy Inc (fka LIEG)

[Dr_Vonschellan]

What does it mean, Bearing_pays_16M_Shares_for_LIEG... it's_simple_to_explain
Woolfgi, before the upcoming Merger Day we (ie LIEG) are a company of 556,124,331 shares on the OTC owning 17.7% of the Maricunga NewCo JV.

After the Merger Day we (ie the Legacy LIEG shareholders) are a new company called BRGRF comprised of 16,000,000 shares on the OTC reduced to owning 6.21% (ie 17.7% x 35.12%) of the Maricunga NewCo JV.

BRZ listed on the Canadian Exchange will own 11.48% (ie 17.7% x 64.88%) of the Maricunga NewCo JV. You will own none of this... and you won't be able to sit down comfortably for a month or so.

From the Merger Agreement Click Here go page 53 paragraph 8
Ownership of Bearing After the Merger
Immediately following the merger, current Bearing shareholders will own approximately 64.88% of the issued and outstanding Bearing common shares and current holders of Li3 common stock immediately prior to the merger will own approximately 35.12% of the issued and outstanding Bearing common shares on a non-diluted basis. On a fully diluted basis, assuming the exercise of all outstanding options and warrants to purchase Bearing common shares and Li3 common shares, the current Li3 shareholders will own approximately 28.14%, and the Bearing shareholders will own approximately 71.86%, of the issued and outstanding Bearing common shares.

If you voted YES then "this is your new bed that you made... now sleep in it" as my mother used to say.

The Doctor