Based on the news below, MJM.V will have $2.5 million in cash and $2.2 million worth of Seabridge shares or over $.50/share of cash/shares. I don't own any shares but would buy as much as I could under $.30 tomorrow.
Max Minerals Ltd
Symbol MJM
Shares Issued 8,617,491
Close 2009-08-11 C$ 0.22
Max Minerals to sell 22 claims to Seabridge
2009-08-12 18:14 ET - News Release
Mr. Andriyko Herchak reports
MAX SELLS 22 MINERAL CLAIMS
Max Minerals Ltd. has entered into an agreement with Seabridge Gold Inc. to sell a 100-per-cent interest in 22 mineral claims totalling 8,975 hectares (approximately 22,160 acres) immediately adjacent to Seabridge's 100-per-cent-owned KSM project located in British Columbia. On closing of the transaction, which is expected to occur within 30 days, Seabridge will pay Max $1.0-million in cash, issue Max 75,000 common shares of Seabridge and grant Max a 2.5-per-cent net smelter royalty (NSR) on the claims being purchased. The purchased claims are also subject to a 2-per-cent NSR in favour of the original owner of the claims under which Seabridge would be required to pay 10 annual advance royalty payments of $100,000 each, ending in 2018, which amounts would be credited against any payments due under the 2-per-cent NSR. Closing of the transaction is subject to regulatory approval.
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