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Monday, January 18, 2021 10:56:25 AM
The issue between the Paso/CLX RM is that many investors relied on the LOI and subsequent PR’s to invest. I know one guy in California who bought 30 million shares at $.10 each. Do the math. These wealthy investors who have lost a lot of money are not going away. They will, or have already, sent out letters to all parties involved in the RM asking them to retain all documents related to the merger. This is probably why the silent treatment from all sides. If the RM doesn’t go through, there’s going to be a reckoning everyone involved wishes had not happened. BW and JG and CLX will all find themselves in legal discovery and being stuck in a deposition for 2-3 days straight. It’s not going to be pleasant.
I know RM are supposed to be like weddings. Where everyone is happy. But there are other types of weddings, namely shotgun weddings. I wouldn’t be surprised if attorneys for PASO on one side and CLX on the other have been having discussions back-and-forth about forcing some sort of closure/resolution that doesn’t involve everyone being stuck in litigation. Even if that means force closing the RM with a DA. I think all parties involved now realize they ALL went too far with their actions to back down now.
GLTA
PS. The silence we’ve been seeing is most probably from the Mexican standoff currently happening. PASO..CLX...PASO shareholders are all three pointing fingers at each other.
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