Arcan Resources Ltd ARNBF

Borrow from Peter to pay Paul

[tire9]

Quote "Arcan initially intends to use the net proceeds of the Offering to reduce the balance owing under its revolving credit facility, and will re-draw such amount to finance its ongoing exploration and development activities. Arcan plans to use the balance for general working capital purposes. "

Canadian banks don't lose money-THEY MAKE MONEY EVEN WHEN THEY LOSE MONEY.
Bank options include--- waiting awhile for stock price increase, shorting the stock or forcing a buyout to make their profits. 6.50% interest for the next 7 years on the DB bonds.

Did they out - snooker the banks? Don't forget the shares and DB bonds are listed on the venture exchange.