Resource Capital Gold Corp GDPEF

any thoughts

[edm1996]

Status of File As At February 15, 2019 

Resource Capital filed notices with the Supreme Court of British Columbia today for a court hearing to be scheduled for Wednesday, February 20, 2019 during which Resource Capital will be seeking the following approvals from the Court to advance their restructuring efforts: 

- an interim financing loan facility with Sprott Private Resource Lending (Collector) LP ("Sprott") which provides a commitment to lend Resource Capital up to $2.2 million to fund operations.  In addition, the Company is requesting that the Court grant Sprott a charge over all of its assets as security for this loan; 
- a retention agreement between Resource Capital and its interim CEO a charge against the Resource Capital's assets to secure certain payments under the retention agreement; 
- an extension of the time Resource Capital has to file a proposal to April 13, 2019 
The Trustee has completed a report to the Court which has been posted on this website for the review of stakeholders.   The materials filed with the Court will also be posted on this website as soon as they are available. 

The Trustee will be working with the Company to complete a sales process that is expected to commence Tuesday February 19, 2019.   Parties interested in acquiring the Company's assets should contact Mr. Tom Guthrie, PwCCF, at 604-806-7081 ([e-mail]).

[kenmar]

 Is there a time listed for the hearing?

[damianchosenone]

9:45 bc time at 800 Smithe Street Vancouver Bc. 

[kenmar]

 Thanks. Might go something like this- Jack- " The Company would ......" Sprott Lending- "No"

[kenmar]

 So this is it then. We will know in less than an hour if there will be anything more to report about this company. If they give the extension, then they are being cooperative. 

[damianchosenone]

I am almost sure there will be a extension . They are the ones that approved the 2.2 million dip financing ( sprott). Extensions are almost always granted.