Here's the entire NR..
Harte Gold extends stay period to Jan. 31
2021-12-20 16:05 ET - News Release
Mr. Shawn Howarth reports
HARTE GOLD ANNOUNCES EXTENSION OF STAY PERIOD, APPROVAL OF INCREASED DIP FINANCING AND APPROVAL OF SALE AND INVESTMENT SOLICITATION PROCESS
As previously announced on Dec. 7, 2021, Harte Gold Corp. was granted creditor protection pursuant to an order granted by the Ontario Superior Court of Justice (Commercial List) under the Companies' Creditors Arrangement Act (CCAA), RSC 1985, c. C-36, as amended. Pursuant to the initial order, the company obtained protection from its creditors for an initial period of 10 days and FTI Consulting Canada Inc. was appointed as monitor of the company.
On Dec. 16, 2021, the court granted an order pursuant to which the stay period was extended until Dec. 21, 2021, and the amount authorized for borrowing under the DIP financing agreement approved by the court in the initial order was increased to $2.5-million,
On Dec. 20, 2021, the court granted an amended and restated initial order (ARIO) pursuant to which, inter alia, the stay period was extended until Jan. 31, 2022, and the amount authorized for borrowing under the DIP financing agreement approved by the court in the initial order was increased to $10.8-million.
Also on Dec. 20, 2021, the court granted an order authorizing the company to conduct, with the assistance of the monitor, a sale and investment solicitation process (SISP) in accordance with certain terms and conditions relating thereto. As part of the SISP order, the court approved the company's execution of a subscription agreement with 1000025833 Ontario Inc., a wholly owned indirect subsidiary of Silver Lake Resources Ltd. and the use of the subscription agreement as a stalking horse bid in the context of the SISP, in order to establish the baseline consideration for the company's business and assets. Interested parties are invited to participate in the SISP and submit a superior proposal to the Stalking Horse bid. If no superior proposal is submitted to the company and the monitor in accordance with the SISP, the investor shall be declared the successful bidder at the conclusion of the SISP and, if the transaction contemplated in the subscription agreement is subsequently approved by the court, the investor will become the sole shareholder of company, which will continue its business and operations as a going concern. The SISP is intended to secure the highest or otherwise best offer for the company's business and assets, for the benefit of all stakeholders.
In order to participate in the SISP and obtain access to a virtual data room, all interested parties must comply with the terms and conditions set forth in the SISP procedures, a copy of which is attached to the SISP order and is also available on the monitor's website. Parties interested in participating in the SISP should contact the monitor at hartegold@fticonsulting.com.
All bids must be submitted to the monitor by no later than Jan. 14, 2022, at 5 p.m. (prevailing Eastern Time).
NO TALK OF STOUGHTON NOW FOR SEVERAL NR's..... I SUPPOSE WE GO QUIET NOW TILL JAN 14.....