Channel Resources (CHU T) Message Board

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Gold/Mining/Energy : Channel Resources (CHU T)

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To: Bobby Yellin who wrote (21)	7/4/1998 10:47:00 AM
From: John Stokes	of 29

No need to apologize Bobby as this is confusing for many of us. The lock up is a term used to confirm that the deal cannot be reversed if the obligations of the parties are met. Viceroy has agreed to exchange their 7 million plus shares of CHU on the offer at 4.5 CHU for 1 EET provided that EET can gain the 51% control in so doing. It is my understanding that if we surrender our shares to this offer and EET does not gain 51% of CHU then the offer is void and the CHU shares remain in our hands so there is nothing to lose in accepting the deal but there could be considerable loss in not doing so.

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