In respect of the Afcan deal, does anyone know the exercise price of the new Eldorado warrants? It would appear that it is 6.5x the Afcan warrant exercise price, but how much is that? The agreement text goes as follows:
Subject to final Court approval, the Compromise is expected to become effective September 14, 2005 (the "Closing Date"). Afcan shareholders will receive one common share of Eldorado in exchange for every 6.5 common shares of Afcan held by them. In addition, Eldorado will issue one Eldorado warrant for every 6.5 outstanding Afcan warrants each Eldorado warrant will have a exercise price of 6.5 times the Afcan warrant in respect of which such Eldorado warrant was exchanged and will have a term to expiry the same as such Afcan warrant.