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BREAKING: Kontrol Receives Approval for Government Grant to Accelerate the Development of New COVID-19 Testing Technology

  • Received approval for an initial government grant of $50,000 from the National Research Council of Canada to accelerate its new Covid-19 testing technology, the Kontrol BioCloud® analyzer
  • Kontrol is developing a new technology designed to detect and alert for COVID-19, in real-time, through rapid on-site air sampling and detection of aerosol and droplet encapsulated viruses in indoor and outdoor environments
  • Kontrol has developed its initial prototype and has commenced lab testing of the detection chamber
  • The lab will spend the next 4 weeks testing the detection chamber and the applicable interactions with COVID-19

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Hub On AGORACOM / Read Release

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on understanding the merger. This is from the news release:

"The share ratio under the proposed transaction represents an approximate share value equal to $1.01 per Lexam common share based on VG Gold's closing market price on September 28, 2010. This amount represents an approximate 10% premium over Lexam's Net Asset Value. The calculation of Lexam's Net Asset Value excludes the company's Baca Oil and Gas and Otish Uranium projects."

Note that VG closed at .48 on September 28.

Note that it says that Lexam's net asset value excludes the Baca Oil and Gas and Otish uranium projects.

Lexam does own 75,000,000 shares of VG.

Lexam has 48,750,000 shares outstanding (approximate)

So there are 1.538 shares VG for every LEX share.

So the ratio should be 1:1.538 or .48x1.538=.738

but I am thinking that LEX is a bit cash rich (They owned and sold off Rubicon)

LEX likely has about 10 million in the bank (just a guess) or about .205 cents per share

.738+.205=94.3

OK so ad the 10% premium and I guess I am in the ball park of 1.01 that they mention and can see the .48 to 1.01 or 1 to 2.1 reasoning.

Just one last problem I am having with this: Why does LEX get a 10% premium in this? Supposedly it is a merger not a takeover. JMHO.

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