|
1. Rockport have gone into biz with a Capital Pool Company to raise money.
2. I expect that Freewest know all about this and are in agreement.
3. The third party in the amalgamation, 7022441 has J Aune as secretary but I cannot find out anything more. It might be bringing assets, it might be cleaning or possibly a vehicle for the future.
Rockport Mining Corp. signed a letter of intent to acquire Chairman Capital Corp. (TSXV: CMN.P) in a reverse merger transaction.
02/19/2008
Rockport Mining Corp. signed a letter of intent to acquire Chairman Capital Corp. (TSXV: CMN.P) in a reverse merger transaction on February 19, 2008. Under the terms of the letter, the holders of Rockport common shares will receive one common share of Chairman for every one Rockport share held, the holders of Rockport common share purchase warrants will receive one common share purchase warrant of Chairman for every one Rockport warrant held. The Rockport options will be cancelled. Rockport intends to undertake a non brokered private placement of up to 10 million common shares prior to the closing of the transaction. Approximately 2.94 million of the Rockport Financing shares will be flow through shares offered at $0.85 per share and the balance will be common shares offered at $0.75 per share. After the completion of merger, Chairman Capital will have 45.45 million common shares, 17.64 million warrants and 4.27 million Chairman options outstanding. The current Directors of Chairman will resign and the five nominees of Rockport will be appointed. Henry A. Miller will be the President and Chief Executive Officer, Roger Dahn will be Senior Vice President and Chief Operations Officer, and Craig Brown will be Secretary of Chairman. Ken Hight, Richard H. Block, Steven D. Van Nort and William H.R. Smith will be the Directors.The transaction is subject to due diligence review, approvals of the Board of Directors of both Chairman and Rockport, receipt of third party consents and approval of shareholders of Rockport and approval by the Exchange. On June 3, 2008, Rockport Mining Corp. and Chairman Capital Corp. (TSXV: CMN.P) amended the terms of the letter of intent to extend the date of termination of the letter of intent from May 30, 2008 until June 30, 2008. On June 30, 2008, the terms of the letter of intent were further amended to extend the date of termination of the letter of intent from June 30, 2008 until September 30, 2008. Under the new terms, Rockport also agreed to pay Chairman Capital a termination fee of CAD 0.25 million plus legal fees, disbursements and taxes incurred in connection with the transaction.
SO
Under the terms of the letter, the holders of Rockport common shares will receive one common share of Chairman for every one Rockport share held,
The Rockport options will be cancelled. Rockport intends to undertake a non brokered private placement of up to 10 million common shares prior to the closing of the transaction.
Approximately 2.94 million of the Rockport Financing shares will be flow through shares offered at $0.85 per share and the balance will be common shares offered at $0.75 per share.
After the completion of merger, Chairman Capital will have 45.45 million common shares, 17.64 million warrants and 4.27 million Chairman options outstanding.
The current price of Chairman is $0.25
If amalgamation goes ahead 31st March, is this an immediate 3 bagger?
Unfortunately not!
This report lists all of the Capital Pool Companies that are currently listed on TSX Venture Exchange as of the date shown above. It includes contact
information for each of the companies.
Chairman Capital Corp
CMN.P
Aune, Jonathan
1 416 361-1448
1 416 367-9591
HALT
09-May-07
DAMN!
|
