RE:hyotheticallyTheir own words...
-Once Uragold as issues the press release confirming the successful metallurgical testing, and the Investors have released the escrowed $250,000 to Uragold, Uragold shall start the process required to spin out the Gold assets of the Corporation into a separate Company.
the metallurgical testing is completed and the $250K released from escrow...
We are now here waiting for technology validation...
750,000 Convertible Debenture: During Q2 2016, but no later then 60 days after Uragold issues a press release confirming the successful metallurgical testing and validation that the PUREVAP(TM) QVR could produce at least 4N Purity of material during the first test, the investors shall proceed with a $ 1,750,000 private placement by way of convertible debenture.
I would expect that they are getting everything in order now to allow immediate spin out of the gold assets upon technology confirmation.
Considering that the majority of shares are held by insiders and institutions the spin out vote will be a formality?
We are close enough to the vote now that if anything I would like more shares to increase my share of the gold assets before the spin out.
Cheers, Nap