GOLDBROOK VENTURES INC V.GBK

Goldbrook's News Releases & Company Brochure

[dsel]

In the past few days after reading through Goldbrook’s Joint Venture agreement several times and trying to understand the meaning of
“Section 4.5- Budgets and Future Funding” (p.20 of 149) “whether such funds will be advanced by debt or equity and the terms of any equity or debt funding”

and “Schedule1- Unanimous Voting Matters” (p.49 of 133) “(f) issue, redeem or repurchase any securities of Acquisition Co. other than as set forth in a Budget approved with Section 4.5”

https://www.sedar.com/GetFile.do?lang=EN&docClass=14&issuerNo=00002244&fileName=/csfsprod/data99/filings/01456813/00000001/i%3A\SEDAR\GoldbrookVentures\2009\GBK_JJShrderJBAgrmt.pdf


it looks to me that these sections provide a loophole big enough for a truck to drive through for Jilin Jien Nickel Industry Co to dilute the 25% interest Goldbrook had in the Canadian Royalties acquisition.

According to Goldbrook:

April 14, 2010 News Release:
https://www.goldbrookventures.com/media/2010NewsNIJCMCZZAssetsApr14.pdf

“Goldbrook Ventures Inc. owns 25%of the voting shares of JCM, and Jilin Jien Nickel Industry Co., Ltd. (“JJ”) owns 75% of the voting shares. JJ is responsible for providing 100% of the funding to bring the Nunavik Nickel Project into production and will be repaid for its contribution out of cash flow from production on the Property if commercial production occurs.”

July 2010 Company Brochure:
https://www.renmarkfinancial.com/files/factsheet_pdf/gbk-fs-072010-en.pdf

“Jien International Investment Ltd. (JIIL), Goldbrook’s
partner in Jien Canada Mining Ltd., is responsible
for fully funding both the acquisition
(now complete) and construction of the Nunavik
Nickel Project. Upon reaching full production,
and after JIIL has recovered project funding,
Goldbrook will be entitled to 25% of the project’s
cash flow.”

Ah well you live & you learn. Caveat Emptor – Let the Buyer Beware!

Just my humble opinion.