RE:Fraud and theft alleged under current CEO's watchHCI_STEEL wrote: Oh, and isn't it funny that Kerr is listed as being owed 1.6M from SGC!
All imo.
From Kerr's March 31, 2015, financials:
A provision for bad debt was recorded in the amount of $1,600,000 in relation to a loan provided to San Gold Corporation (Note 20).
6. MARKETABLE SECURITIES
During the nine month period ended March 31, 2015, the Company sold 6,666,667 shares in Pinetree Capital Ltd. it had acquired through the private placement described in note 12(i), which
resulted in a realized loss of $1,997,860 12. CAPITAL STOCK, (continued)
(i) On July 31, 2014, the Company closed a $3,000,000 offering. Pursuant to the terms of a share purchase agreement dated July 28, 2014 between the Company, Pinetree Resource Partnership (“Pinetree Partnership”) and Pinetree Capital Inc. (“Pinetree”), Kerr issued 6,666,667 common shares to the Pinetree Partnership at a deemed price of $0.45 per Kerr Share in exchange for 6,666,667 common shares of Pinetree at a deemed price of $0.45 per share. Kerr paid finder’s fees consisting of a cash commission equal to 5% of the gross proceeds of the Offering paid through the issuance of 333,333 Kerr Shares and issued broker warrants to acquire up to 333,333 Kerr Shares at a price of $0.60 per Kerr Share until July 31, 2016.