There is a MOU (Memorandum of Understanding) between CGI (CGFIA) and American Sierra Gold (AMNP) to merge. I believe the due diligence period is to end (extended) sometime in August. In the event a merger is deemed responsible by the two parties, one or the other would be merged into one or the other.
I know, sounds kind of whacky, but there are some synergies and potential of uplisting to a higher stock board that are involved. We haven't had a lot of information lately from either company, but I can say that CGFIA is 3 knat's a$$ away from an approval on a permit. You can check out that board and the company's website for more information.
The 15-1 could be, in the event of a merger, the number of CGFIA shares that would be given to each share of AMNP shareholders. Naturally, that will depend on valuations of each company at the time of execution of any prospective merger.
Probably confused you more than you were before, but that's the way I see it through these red eyes.
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