Argex Titanium Inc. ARGEF

New Proposal documents. We are fuc!ed.

[TomKCam]

Hi all,

There is a documents update at PWC. I just started to read them. It is very technical. If I understand accordingly, we are fuc!ed. AlNaimi is buying the debt to form a new co..

Ostie de clice de tabarnak...

Main page : https://www.pwc.com/ca/en/services/insolvency-assignments/argex-titane-inc--argex-titanium-inc/motions-and-orders.html

The court order : https://www.pwc.com/ca/en/car/argex/assets/argex-003_07052019.pdf

Document explaining what is the proposal : https://www.pwc.com/ca/en/car/argex/assets/argex-002_07052019.pdf

[Mininggeneral]

Tom, didn't I tell here on the board this is exactly how it would play out. The only hope now, is if the Howard Group, I think on the call they had 3 million shares and other stake holders step up and spend the money to fight the lawsuit. If I'm small potato, I would just wait and see if the big boys will step up.

[TomKCam]

There is not a lot of big boys into this. That is a part of the problem. If there was more, I guess the management would have been more cautious. The other problem is that it is summer. The bidding process is a month. This probably decrease the bidding competition. Tom

[turr]

Tom I think that can all be extended considering the situation.

[Mininggeneral]

Tom, there is enough big boys that have invested through the years, think I heard on the call there was 50 million shares that people signed up on the call. Pretty sure there are enough shareholders that hold 3 million shares+. The question who is going to take a leap of faith and spend those dollars on the lawsuit. For me, will wait for this to happen and if any settlement, it will be contingency

[Mininggeneral]

My guess when they say 40k starting, think probably will need to spend $100k-200k depending on the complexity of the case.

[turr]

Well, Tom, looks like all in for class action suit and some justice to me and the way I read it. .

[grandpa67]

They bring out the ECEC news and could not raise money? They claim they tried to raise money, when? He and the directors are stealing the company from us. Got to love the way the law works in Canada.

[TomKCam]

This is certainly the part of this story that stinks. Argex succeeded to raise money quite a few times when there was no such deal in place and the tech was not mature to the current level. If there was a lawsuit, this is certainly where there would be investigation. Must go tell the wife. It is gonna be a long and unpleasant car trip... Tom

[Ontario1]

It's more then dirty. Over months we were waiting for drill results, fixed take over contract, new patent is due and the china deal was never published complete. This all are information, that should be published, if a company is listed at TSX.Shouldn't it?

[Mininggeneral]

Ontario, all things were reported in real time. If you read the bankruptcy filing, nothing was really happening: they stated in development phase, huge losses for years, no ROI ever, no money to go forward to continue. I understand what pisses everyone here is they magically come up with 1.5 million to go forward.

[hoosrmlkmkr]

Ok Peeps... I do not read this document like you do, but I could easily be mistaken. They are again trying to raise money. If you look at 5.A.32. - the proposed restructuring has the Stalking Horse Investment Term Sheet which is composed of Mazen and any other stakeholders who would like to be investors.  This Stalking Horse is an investment group that must repay creditors who wish to be

[blueskiesrgx]

If Mazen cared about current shareholders he wouldnt have cancelled the AGM and would have explained the reasoning behind what is happening. He hasnt, and has proposed to wipe shareholders out on the basis that creditors (of which he is a major holder) want to be paid back - hes stealing this out from under us and it shouldnt be legal. It is most certainly not ethical and I hope he and the board

[Menace46]

I agree blueskies, The "Message from the CEO" back in early 2017 was the first step to implementing this plan. There is no way in hell that after the current patent app is approved(probably already is) that we'd struggle to raise the $3 million we'd need to clean up the balance sheet(aside from the directors notes). 100 million shares, 3 cents, done deal, we move forward 550

[Mininggeneral]

Hoos, read bankruptcy filing #40, Mazen is providing relief of up to 1.5 million to debtors, and start a new company to run.