GREY:BPCOD - Post by User
Post by
rtszdon Dec 20, 2010 6:17pm
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Post# 17873218
A Bonus for What?
A Bonus for What?Black Panther arranges $120,000 loan from insiders
2010-12-20 13:38 ET - News Release
Mr. Ronald Coombes reports
BLACK PANTHER ENTERS INTO LOAN AGREEMENT
Black Panther Mining Corp. has entered into a loan agreement, pursuantto which it will receive $120,000 for working capital and explorationpurposes. The loan has been provided by certain directors and officersof the company and is for a term of one year with interest at a rate of 1per cent per month (12 per cent per annum). Subject to regulatoryapproval, the company has agreed to issue an aggregate of 200,000 sharesto the lenders as a loan bonus in accordance with TSX Venture Exchangepolicy.
These insiders are sooo hard on themselves! 12% + 200k as a loan bonus! Let's see: interest of $14,400 + 200k shares @
.12 or better=$24,000+ for a $36,000.00. All they have to do to fund this is to give themselves a raise. What about a PP? Or, have they already shot themselves in the foot with shareholders. Same strategies abount in CYU! Obviously, an early Christmas present!