In the control fight between the Board of $TNR and Eucalyptus, TNR board of directors decided to postpone the vote for naming board members. Eucalyptus had already 46% of the proxies apparently. So after a few days in the hands of BC’s Supreme Court, the two parties agreed to postpone the meeting until Dec 8 (Board said it’s to give them time for a “strategy review”). But today (yes, because the last part happened like yesterday, so old news), PLOT TWIST! $ALS made an unsolicited, non-binding proposal of acquisition of all common shares. Official announcement from $TNR was: “No decision has been made with respect to any definitive transaction contemplated by the Proposal. There can be no assurance that any transaction will result from the Proposal, that any such transaction will be approved or completed, or as to the timing, structure or terms of any potential transaction. Shareholders are not required to take any action at this time. The Company does not intend to comment further upon any potential transaction unless a definitive agreement is reached or unless otherwise required by law. ” So is this a power play from the board, or just an odd timing? Legitimate offer? Stay tuned for more action. The quote is an excerpt From “TNR Gold Receives Non-Binding Acquisition Proposal from Altius Minerals; Enters into Exclusivity Arrangement” Newsfile https://stocks.apple.com/AUDrvlHn5QO-vvYhT2lb0dQ This material may be protected by copyright.
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