Nemaska Lithium Inc NMKEF

RE:RE:RE:RE:The Chinuchi Agreement - Nov. 07, 2014...

[TFSAfunds]

phantom666 wrote: I don’t see anything in there about NMX refinancing and they haven’t declared bankruptcy nor anyone after the assets of the mining equipment. Everyone is just fighting over the language in agreements.

Lol... you are quite correct. Isn't that also what Nemaska is doing with the CCAA and its bonds, off-take agreements, streams, etc... That is why courts exist! Nemaska has its back against the wall and CCAA is a last gasp attempt at staying afloat. CCAA is the precursor of bankruptcy.

(e) upon receipt by NMX of a Notice of Termination executed by the Cree Parties, in the event NMX:
(i) files a voluntary petition in bankruptcy or insolvency or a petition for reorganization, arrangement or compromise under any applicable bankruptcy law; or
(ii) consents to any involuntary petition in bankruptcy or if a receiving order is given against NMX under any bankruptcy law, or an order, judgment or decree is entered by a court of competent jurisdiction, upon the application of a creditor, receiver, trustee or liquidator of all or a substantial part of the assets of NMX;

I guess the Cree might fight over the language in this agreement. Is CCAA not part of Federal bankruptcy for larger corporations?  Wabouchie is on their lands... maybe another company would like to have the rights to mine the lithium at a price more beneficial to the Cree. If the Cree are dissatisfied with how Nemaska has been handling things, this could be their way out...