The cancellation or change of date of an annual meeting is material information and MUSTbe timely disseminated via the SEC website and press release, NOT an unauthorized board poster. The by-laws of the SPEC state that if and when the sponsor eliminates the $0,035 contribution thats it will result in an automatic trigger an to redeem and disolve the all shares. This WILL in effect take place on June 5, however, there is a special meeting scheduled the day before on the 4th to vote to change the bylaws providing a majority of 65% or more of the votes cast at the meeting to wave this distribution after June 5. "However, the Company will not proceed with the Extension Amendment and the Trust Amendment if the redemption of public shares in connection therewith would cause the Company to have net tangible assets of less than $5,000,001. If the Extension Amendment and the Trust Amendment are approved by the requisite vote of shareholders (and not abandoned), the remaining public shareholders will retain their right to redeem their public shares for their pro rata portion of the funds available in the trust account upon consummation of the business combination when it is submitted to the shareholders". "The withdrawal of funds from the trust account in connection with the Election will reduce the amount held in the trust account following the redemption, and the amount remaining in the trust account may be significantly reduced from the approximately $128.4 million that was in the trust account as of February 28, 2018. In such event, Electrum may need to obtain additional funds to complete a business combination and there can be no assurance that such funds will be available on terms acceptable to the parties or at all".
THE WARRANTS WILL STILL BE OUTSTANDING UNTIL THEY EXPIRE ON JUNE 10, 2021, BASED ON CURRENT CORPORATE STATUS. IF A BUSINESS COMBINATION WAS TO BE CONSUMMATED, THE WARRANTES WOULD BEGIN A 5 YEAR TERM WITH A HOLDER OF 1 WARRANT TO BUY 1/2 SHARE AT $5.75 OR $11.50 FOR 2 WHICH IS THE MINIMUM.
