Post by
lscfa on May 01, 2023 10:40pm
Fins on sedar
Co invested more money in IB...and who did it loan $2 million to?
On November 1, 2022, the Company subscribed for 1,250,000 units of Iron Bull at $0.40 per unit. Each unit consists of one common share and one warrant, with each warrant entitling the holder to purchase a common share at a price of $1.20 for a period of two years. Accordingly, as at December 31, 2022, the Company owned 21,250,000 shares and 1,250,000 warrants with a value of $7,407,800.
Comment by
lscfa on May 02, 2023 11:36am
I suspect RGX lent the $2 million to thier partner Davis recycling.
Comment by
BrandNewGuy on May 03, 2023 2:26pm
The company issues another $2m loan or is this the loan from Jan/22 you are talking about?
Comment by
lscfa on May 03, 2023 2:27pm
Same loan, issued Jan 2022
Comment by
BrandNewGuy on May 03, 2023 2:34pm
I asked the question way back last year and they didnt get into the details. They did say that this was an in and an out as there is a $2M debenture on the books as well and they just get the interest rate spread. I wouldnt have done this for a few dollars but they did.