OTCQX:BGMZF - Post by User
Comment by
Czechlateon Jan 02, 2015 9:37am
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Post# 23279212
RE:]Decision Matrix[
RE:]Decision Matrix[They are running a couple companies that are on way to oblivion so they took Sprotts offer for job security for a few months.
Sprott brought them in to protect his investment as it goes through the foreclosure process. After all BGM signed all rights to its assets over to Sprott to obtain loan so after Jan 28th he owns it all. Gibson is knowledgeable in area of bankruptcy and delisting.
| | Dec 02, 2014 December 2, 2014; Vancouver, BC -- Barkerville Gold Mines Ltd. ("Barkerville" or the "Company") is pleased to announce that on November 28, 2014, the Company negotiated a third limited two-month extension and waiver in connection with its existing Credit Agreement with 2176423 Ontario Ltd. (the "Lender"), a company controlled by Eric Sprott. In connection with and in furtherance of the extension, the Lender has agreed to waive any events of default under the Credit Agreement until January 28, 2015.
The parties are also continuing to review potential loan amendments that might better fit with the Company's business operations going forward. The Credit Agreement otherwise remains in full force and effect.
In consideration of the extension the Company is providing with the Lender with the right to appoint up to a further two nominees of the Lender to fill the current vacancies on the Board of Directors of the Company.
"Elena Clarici"
Dr. Elena Clarici
CEO |