Hold your horses there Tex, don't forget the "Boo Hoo Clause" and the SEC "Boogie man" provision in the FAQs.
Would NMGL be entitled to cancel these transactions for any reason?
NMGL is entitled to cancel these transactions should they deem these transactions to be of reputational risk to themselves. The agreements provide for such termination by NMGL in the event of any litigation against Fortress or Western or any regulatory actions against Fortress. Damaging and libelous statements publicly leveled at NMGL, its Directors, Advisors and controlling stockholders could also trigger such termination. In the event of NMGL terminating these agreements, Fortress and Western have been advised by Searchlight Exploration, LLC that Searchlight Exploration, LLC would in likelihood exercise its rights and remedies to terminate its Agreements and reclaim all of the Bouse Gold, Inc. and South Copperstone, Inc. properties as it is legally entitled to do so.
With respect to the regulatory action provision, I don't think that it is at all unreasonable to contemplate that the SEC will in fact begin proceedings against FFGO which conceivably could occur at any moment insofar as management has already acknowledged this likelihood. That would cancel the deal. Can you see how they regard you shareholders? I mean on the one hand they mention that the SEC may move to cancel their registration early in the most recent FAQs, and in the very same FAQs a little more toward the end, they casually mention that this could cancel the deal. As far as I concerned that is extremely devious in fact bordering on fraudulently deceptive. You simple can't have it both ways.
And of course the "Boo Hoo Clause", a provision I find laughable insofar as there is already enough bad press about Lumb and his chummy little cadre of cohorts to serve as adequate justification to trigger this clause six months ago. That would also cancel this deal.
So at the end of the day, your deal, already with more holes in it than a Sierpinski Sponge, has probability of occurring approach one in a million, if not more.
Yeah, I'd say that this probability has been priced into both FFGO which currently has no bid and no demand just like NMGL.
Prediction? Fat Chance!
AI
