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Metanor Resources MEAOD

Metanor Resources Inc is engaged in the production and sale of gold as well as acquisition, exploration, and development of mining properties. It projects include the Moroy Project and Barry project among others.


OTCPK:MEAOD - Post by User

Bullboard Posts
Comment by JRaffleson Aug 25, 2012 3:33pm
199 Views
Post# 20260420

RE: RE: Metanor Resources Inc. Announces the Closi

RE: RE: Metanor Resources Inc. Announces the Closi

Could someone help me inderstand why RP, a chartered accountant, would even need to include the provision to issue shares at 28 cents in lieu of cash repayment, and not shares shares issued at at higher price such as say 40 cents. After all the lender is getting 10% secured by the property.Who gets 10% these days...and if you do its generally not secured.

You have hit the nail on the head ………. This is a no brainer investment for the lenders – they get 10% and a share price uplift from 0.28c at any time over the period of the debenture.  In stark contrast, SSL’s financed bought deal required investors to pay 40% above the $10 share price for exercising warrants provided (See below)

However, I would argue that these give away financing deals are less likely to be generous offerings to pals, but more likely to be a condemnation of the boards reputation in the mining industry – that is not to say that if I wanted a super pair of spectacles, I would not put director Tris Coffin at the top of my list ….  or if there was no tranport to the mine and they had to ski from Val d'Or.

SSL Bought Deal :-

Each Warrant will entitle the holder to acquire one common share of Sandstorm at a price of US$14.00 at any time prior to the date which is five years following completion of the Offering.

Metanor Director

Mr. Coffin operates one of the Canada’s most prestigious optical operations located in Montreal (province of Quebec).

He was involved in the 1964 Olympic Games, as Manager of the Canadian Alpine Ski Team.

 

 

 

 

 

 

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