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Message: Backed into a Corner??

Was just re-reading the points layed out in the acquisition agreement on the buyout of Probe. I came upon the following paragraph which I had not really thought about at first read. "under certain circumstances where the transaction is not completed, Probe has agreed to pay a termination fee of $18.4 million to Goldcorp." My question is this. If this deal is voted down by the shareholders ie. if the 66.66% is not met and the deal dies, is this one of the certain circumstances? If this is the case then Probe has to cough up this $18.4 million which sure takes a chunk out of the coffers for future drilling up of this ore body. Will we be backed into a corner and short ourselves of cash to carry on as what was being planned for this winter and next spring drill programs? Answers anyone? the deputy

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Jan 19, 2015 05:28PM
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Jan 19, 2015 05:48PM
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