Anson Intends to Vote Against the Transaction between Cobalt 27 Capital and Pala Investments
July 08, 2019 at 09:53 pm IST
On July 8, 2019, Anson Funds expressed its view that the recently announced transaction between Cobalt 27 Capital Corp and Pala Investments Ltd., pursuant to which Pala will acquire 100 per cent of the Company's issued and outstanding shares for $3.57 in cash plus shares of a newly listed company to be named Nickel 28 Capital Corp., significantly undervalues the Company. Anson stated that it intends to vote against transaction and expressed its view that the Company is unlikely to receive the required "majority of the minority" shareholder approval.