RE:NEWS: HUD and Lenders agree to plan Sounds like the lenders are taking a stake in White Mountain:
Under the terms of the plan, the Lenders will become partners going forward which will help the Company realize the true value of this unique anorthosite mine and its many green applications. The Lenders will hold two of the four board seats on Hudson Greenland A/S, the Greenlandic operating company which holds the White Mountain exploitation license. The other two seats will be held by Hudson Resources and Greenland Venture A/S, a Greenland government investment fund which owns eight million shares in Hudson Resources.
This new structure and capital injection will not dilute Hudson Resources shareholders, while allowing them to share in the upside of the White Mountain mine.