Wednesday, September 23, 2009

I wonder if Century will get at least C$11M from today's Etruscan deal

At least C$8M from the sale of the 26.3M outstanding shares and from sale of warrants. Also, at least C$3M from settlement of the US$3 Convertible Promissory Note and associated warrants. If Etruscan's deal closes first then Finskiy may still give this cash to Century in exchange for his announced allotment of shares in Century. The today's announced $.30 price is pretty much the same price that Century was paying for those Etruscan shares so that is not a factor.

If Finskiy continues with Century's deal then it means that Century gets C$57.5M in cash at closing, instead of C$46.5M. Plus, there is also the C$15M when they choose to convert the warrants. That means we could have a cash pool of C$72.5M.

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