TSX:SGR.UN - Post by User
Comment by
halcroon Jun 22, 2015 11:08am
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Post# 23855050
RE:Seventh report...dated June 17, 2015
RE:Seventh report...dated June 17, 2015Re" promissory notes:
RED MILE TRANSACTIONS
61. San Gold entered into a series of royalty transactions (“Red Mile Transactions”) involving the “Red Mile” limited partnerships. The background of the Red Mile Transactions is provided for in the Gibson Affidavit, and further detailed in the Gibson June Affidavit. As part of the series of transactions, San Gold received promissory notes (the “Promissory Notes”). The interest from the promissory notes is meant to fund San Gold’s future royalty payments.
65. The Trustee, however, notes that it appears as Beechwood’s debenture specifically excluded the Promissory Notes
https://mnpdebt.ca/en/corporate-insolvency/corporate-engagements/pages/details.aspx?title=san-gold-corporation