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Gold/Mining/Energy : Winspear Resources

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To: Rocket Red who wrote (16191)	3/20/1999 4:36:00 PM
From: Lilian Debray	Read Replies (1) of 26850

As a potential shareholder, I would like to understand the following: All shareholders will get the same percentage shares of new company.eg.if you own 8000 shares winspear now when the new company is formed you will get 1000 shares. What happens to the other 7000 shares? New company also will get cash from Winspear How much cash will be diverted from the original Winspear and why would its shareholders only get to keep 1/8 of it? Also the financing that was down with winspear the new company will also get some of that money as they exercise there warrants How could that be worked out in a fair manner for the current Winspear shareholders? Right now there is no value for other propertys How do you know that? What would the working capital be for then? Would the Hilltop property be part of the new company? If a buyout comes the buyer does not get other propertys only Snap Lake That's fine, but why wouldn't shareholders of the current Winspear get a full share of the new company for every share of Winspear they now own? It will be interesting to see if the VSE agrees that this is a great deal for the shareholders.

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