TSXV:EPO.H - Post by User
Comment by
Buyhigheatchipson Aug 12, 2019 6:27pm
406 Views
Post# 30019908
RE:What happened to the $100M
RE:What happened to the $100M Re: GEM:
That is equity financing and would massively dilute the co. if drawn on at these levels.
My feeling is that a cancellation would've prompted an NR but who knows with these guys.
Beleagured shareholders? Yes, that is us. Hopefully this is the reset we've been hoping for.
ComeFromAway wrote: We had a committment from GEM for 100M for 3 years back in 2017. I suspect that funding has been cancelled - otherwise why would we be looking for a LOC from the banks. Sure wish that management had more clarity for the beleagured shareholders.
Vancouver, Canada – Encanto Potash Corp. ("Encanto" or the "Company") the TSX-V listed Potash development; Mining and Operating company (TSX-V: EPO) is pleased to announce that it has secured a commitment for a CAD $100 million funding facility. Under the funding agreement signed 15 th September, 2017 (the "Agreement"), GEM Investments America, LLC and GEM Global Yield LLC SCS undertake to invest up to CAD $100,000,000 over the next three years. Upon a drawdown notice being issued from the Company shares will be issued at a price 90% of the market price subject to a $.05 per share minimum.