RE:What is the status of the Taiwan Investors ?I found this
On March 3, 2016, Uragold Bay Resources Inc. announced that pretesting analysis of its raw quartz material taken from its 100-per-cent-owned Martinville property, located in the Eastern Townships region of Quebec, has yielded purity levels as high as 4N (99.99 per cent) SiO2 (silica). Bernard Tourillon, chairman and chief executive officer Of Uragold, stated, "Using these new results, theoretical modelling of PyroGenesis's Purevap quartz vaporization reactor (QVR) process seem to indicate that transforming raw quartz into high-purity silicon metals with a minimum purity of 4N (99.99 per cent) is within reach, and, with anticipated process improvements, further testing could achieve purity of 5N (99.999 per cent) and even further to 6N (99.9999 per cent)."
On February 29, 2016, A Taiwanese venture capital group, through Stone River Capital LLC (see press release dated Dec. 1, 2015), has notified Uragold Bay Resources Inc. of its intention to convert its $250,000 escrowed cash instalment into shares of Uragold, effective immediately.
As a result of this, Uragold announced that it has closed a non-brokered private placement consisting of the issuance and sale of an aggregate amount of 4,375,000 units at eight cents per unit for gross proceeds of $350,000. The net proceeds from the private placement will be used for general corporate expenditures and exploration activities.
But what I find interesting is the off take agreement. I believe I read but unable to find that the 2 years was extended and warrants were as well extended. Does anyone know what there role is today if any ?
Bernard Tourillon: That is correct. It’s a $5 million dollar funding commitment over the next 2 years. It allows us to reach all our next strategic goals over the next 2 years to get ourselves in a great position.
Tracy Weslosky: I also read, that the deal includes an offtake agreement which will provide exclusive rights for these Asian investors over the next 20 years to market you to solar marketing or solar manufacturing companies in Asia, including China. Is this correct?