Current Price – C$2.40
Liquidation Value – C$2.89+
Upside – 20%+
Expiration Date – TBD
TZZ
Trez Capital Mortgage Investment (TZZ) – Odd Lot Tender Offer – Free Option
Current Price – C$7.99
Offer Price – C$8.0 – C$8.3
Upside – 4% (C$30 for odd lot holders)
Expiration Date – 14th of Feb 2017
This is a tiny opportunity in Canada. Currently the shares trade one cent below the lower limit and thus odd-lot holders are guaranteed that their shares will be purchased at least at the same price in one month. This is a free option on any potential share price appreciation in the meantime or tender being priced at the upper limit (I consider the later to be unlikely).