The offer follows from the interest of its financial partner to acquire the outstanding shares of the company as well as all the rights to the options the company has to process additional minerals.
The offer to acquire all the outstanding shares of the company is $.90 per share.
The board concurs with this offer but must now present the offer to the major shareholders for consideration.
Upon acceptance, the Board shall follow the normal procedures to complete the transaction.
Markray is in the business of extracting precious metals from stockpiles of raw material.
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