Canadian Imperial Venture V.CQV.H

Royalty on Garden Hill???

[santiago44]

Thanks guys for the quick response to my last query. Indulge me with antoher one...

The following is from a news release which you can no longer find on the wesbsite from CIVC.  I found it by searching Garden Hill Newfoundland. It talks about the agreement to cede interests in Garden Hill to PDIP for x-amounts of money, etc. However this little excerpt intrigues me.


The first closing under the Agreement took place today and CIVC received $4,000,000 and out of this amount $1,000,000 has been paid to CIVC Creditor Corp. under the terms of its agreement with CIVC. CIVC has a right to recover this payment to Creditor Corp. through a royalty on production from Garden Hill. A second closing for the balance of the purchase price is to take place on or before March 31, 2008.

I am not a lawyer and you almost have to be to follow the history of this company.  Who is getting a royalty on Garden Hill?  CIVC? Anyone here to clear this one up.

I am a relative newbie to the stock market and have held CIVC for 2 years. I still have a hard time organizing all the details.

Again, TIA all. 

STGO