GREY:ADEXF - Post by User
Post by
MurrayMacon Feb 01, 2012 2:49pm
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Post# 19475477
Transfer of Roche Bay project.....
Transfer of Roche Bay project..... The transfer of the Roche Bay project is described below from the 2010 Management Information Circular.....
XDIP will make an initial contribution of paying for the Feasibility Study ($20,000,000) and at that time and not before, the Company will contribute its 49.9% interest in the Roche Bay Project to the Joint Venture subject to additional financing commitments of XDIP-Huaxin. Based on each party’s initial contributions, XDIP will hold a 28.572% interest in the Joint Venture and the Company will hold a 71.428% interest resulting in XDIP and the Company holding a 14.257% interest and 35.643% interest in the Roche Bay Project, respectively.
Enjoy,
Murray :)