Pretty obivious what the market thinks of this deal for CHX.
Crummy for current CHX bagholders.
At least I got down to 20k before this meltdown started-lol
Cash Minerals Ltd (C-CHX) - Acquisition
Cash agreement to acquire Signet Minerals
2007-08-14 18:05 ET - Acquisition
Shares issued 80,578,011
CHX Close 2007-08-13 C$ 0.80
Also Acquisition (C-SGN) Signet Minerals Inc
The TSX Venture Exchange has accepted for filing an arrangement agreement dated June 12, 2007, between Cash Minerals Ltd., Signet Minerals Inc. and Troymet Exploration Corp., whereby Cash Minerals has acquired all of the outstanding common shares of Signet and spun out the non-uranium assets of Signet to Troymet.
In connection with the arrangement, Signet shareholders will receive one unit of Cash for each Signet common share held. Each unit consists of 0.67 common share and one-half common share purchase warrant. Each whole common share purchase warrant is exercisable into one common share at $1.75 for a three-year period. In addition, Signet shareholders will also receive 0.25 common share of Troymet for each Signet common share held.
As a result of the arrangement, approximately 27,549,355 Cash shares, 20,559,220 Cash warrants and 10,279,610 Troymet shares will be issued for the 41,118,440 Signet shares issued and outstanding. Outstanding Signet warrants will be exercisable into Cash common shares and warrants and Troymet common shares in lieu of one common share of Signet on the same terms and conditions as the original warrant after taking into consideration the above exchange ratios.
Pursuant to the arrangement, Signet has become a wholly-owned subsidiary of Cash.
For further information please refer to the company's information circular dated July 10, 2007, and the company's news releases dated April 25, 2007, June 14, 2007, and Aug. 7, 2007.
