49 North Resources Inc V.FNR

FNR Amendment of Convertible Secured Debentures

[HeartofAU]

First post, had to see if other owners of FNR debentures are upset about this situation.

This is not a very good offer to extend a contract from 5 to 8 years without any  benifit to the lender.

I would not vote in favour of this, looking to hear from others.
slinte

[Chucky951]

Agree, it is not a good offer. maybe they should be lowering the conversion price and boosting the % as a minimum. Majority ownership in OMM as well which has been flying lately. Could sell some of that to close out the FNR debeture holders as an alternate.

[Chucky951]

Hey HeartofAU, just wondering if you've anymore regarding FNR's crappy offer for us debenture holders? Since they did not pay us out on the Series 1 db's on time, they are going to have to sweeten the pot from what their news release says. $020/sh is a joke. My preference is a pay out and with their majority ownership in OMM, which has been flying lately, they can easily sell some to

[Oilman99]

Yes I agree with you a lousy offer from 49. North. They should be paying their senior secured notes off especially with Ominica doing so well. I am going to voting against their offer.