GXM.v down huge 75%, but not sure why exactly as record date to own NCF shares is Jun 28th..so why the big sell off today? Should'nt this be bouncing in the next couple of days?
Any input to clarify this situation would be greatly appreciated, thanks!
2012-06-22 08:43 ET - News Release
Mr. Mark Fields reports
GEODEX CLOSES SALE OF SISSON PROJECT INTEREST
Geodex Minerals Ltd.'s sale of its 30-per-cent interest in the Sisson tungsten-molybdenum project in New Brunswick, Canada, has been completed.
The consideration received comprises 16,003,700 common shares of Northcliff Resources Ltd., $1-million in cash and the return to Geodex for cancellation of 3,333,333 Geodex common shares that Northcliff purchased in 2010.
The Northcliff common shares received by Geodex will be distributed to its common shareholders on the basis of 0.145 Northcliff share for each Geodex share owned. There will be a four-month hold period on the Northcliff shares, as per Toronto Stock Exchange securities regulations, which will expire Oct. 22, 2012. The close of trading on June 28, 2012, has been established as the record date for Geodex shareholders to receive Northcliff shares. The distribution date for the shares will be July 4, 2012.
We seek Safe Harbor.
AI
