Montana Proposal is a type of corporate transaction that involves the consideration and approval of an offer to exchange outstanding shares and amend the certificate of designations, preferences, and rights. This proposal typically requires a Fairness Opinion Report to ensure transparency and fairness in the transaction. The Fairness Opinion Report provides an unbiased assessment of the exchange offer and the amendments proposed. Keywords: Montana Proposal, exchange offer, outstanding shares, certificate of designations, preferences and rights, Fairness Opinion Report. There can be different types of Montana Proposals to consider and approve an offer to exchange outstanding shares and amend the certificate of designations, preferences, and rights. Some of these variations may include: 1. Montana Proposal involving a Stock-for-Stock Exchange: This type of proposal involves offering shareholders the opportunity to exchange their shares of common stock for shares of a different class or series. The aim is to reallocate ownership interests within the company while amending the certificate of designations, preferences, and rights. 2. Montana Proposal for a Stock-for-Asset Exchange: In this scenario, the proposal involves exchanging outstanding shares for company assets or a combination of assets and other securities. This type of exchange can be used to enhance the company's asset base or restructure its ownership structure. 3. Montana Proposal for a Stock-for-Cash Exchange: This type of proposal involves offering shareholders the option to exchange their shares for cash, either partially or entirely. Such proposals are often implemented as part of a strategic initiative, such as restructuring or funding acquisitions. 4. Montana Proposal for Amending Certificate of Designations, Preferences, and Rights: This variation of the Montana Proposal focuses primarily on amending the terms and conditions specified in the company's certificate of designations, preferences, and rights. These amendments may include changes to voting rights, dividend preferences, conversion provisions, or other relevant provisions. Regardless of the specific type of Montana Proposal, it is important to include a Fairness Opinion Report. The Fairness Opinion Report provides an independent and professional assessment of the proposed exchange offer and its impact on shareholders. It analyzes the fairness, from a financial standpoint, of the exchange ratio or consideration offered to shareholders and assists in making informed decisions about the proposal's approval.