Does Vagobel Have the Cash?
Let's face it, $67 million is a lot of money for a company that most of us had never heard of (Vagobel), that apparently had investments in a sector that has been decimated recently (Energy).
Here is from my post, back on Nov. 22, 2014:
"The announcement of the deal, and then the subsequent delays, seem to have corresponded rather well with the sudden and dramatic downturn in the oil markets.
From the PR announcing the deal:
"About Vagobel"
"Vagobel is currently investing in companies in the upstream industry and are CURRENTLY involved in opportunities in the Middle East and Africa."
"Upstream" ...meaning oil and gas exploration and production.
So I certainly think it's possible that Vagobel may have been caught 'holding the bag' on some of their other investments, thereby causing a change in their financial status.
This could have resulted in liquidity issues that left them having to re-arrange or divest other, potentially less liquid assets (real estate, etc.) in order to close the MNP deal as originally envisioned."
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Looking at the actual Placement Agreement filed with the SEC, it looks as though the Closing was to take place in Vancouver, Canada on Dec. 19, 2014, and involve the "wire transfer of IMMEDIATELY AVAILABLE FUNDS and the Corporation shall issue the Initial Shares, the Initial Warrant and the Second Warrant, registered in the name of the Purchaser."
It looks to me like that didn't happen. The question is why?
I'm really starting to get the feeling that Vagobel has had trouble coming up with the cold hard cash.
Come on Vagobel, ...SHOW US THE MONEY!
jmo