OTCQB:EMHTF - Post by User
Comment by
rrrrrrrrrrrron Dec 18, 2019 3:59pm
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Post# 30469906
RE:Delta 2 (Dec Payment – News Release)
RE:Delta 2 (Dec Payment – News Release)Looks like EMH did make the payment. There is a Prospectus Suppliment posted on sedar and in it clarifies the payment was made on Dec 13th.
The Company has advanced a total of $18.35 million to the Joint Venture to date in respect of such obligation. The Company was required to advance $5.94 million on November 1, 2019, which amount has not been advanced in cash as of the date hereof. On November 19, 2019 Village Farms provided notice seeking cancellation of certain of the Company's shares in the Joint Venture currently held in escrow. Cancellation of such shares would result in dilution of the Company's interest in the Joint Venture. The Company has delivered a written notice disputing the release and cancellation of such shares. On November 20, 2019, Village Farms provided notice of arbitration to the Company with respect to these matters. The result of any such arbitration is uncertain. On December 13, 2019, the Company advanced $940,000 to the Joint Venture, as required.