Post by
StockAccumulat on Aug 25, 2022 8:17am
Dept free?
Hi guys,
I see people say we are dept free. But are we not still in dept with frontera for 19m?
Or am i missunderstanding the latest news release?
"In addition, the Company announces that the US$19 million convertible loan outstanding to Frontera, previously announced on April 16, 2021 and May 28, 2021, and originally maturing on June 30, 2022, has been extended to July 31, 2022 and then subsequently to September 30, 2022 to allow for the completion of the Agreement (the “Loan Extension”). The Loan Extension remains subject to final TSXV Approval"
Comment by
waitingstill on Aug 25, 2022 12:22pm
The latest deal needs to be approved by TSX and Guyana Govt. Once it is approved, then the debt will be paid off. They had to extend the loan until the deal was officially and finally approved.