GREY:WFEMF - Post by User
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TELEMARKERon Oct 12, 2013 12:35pm
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RE:Resinco settles debt with Woulfe Shares
RE:Resinco settles debt with Woulfe Shares Resinco settles JRI payment with Woulfe shares
2013-10-11 17:08 ET - News Release
Mr. Hein Poulus reports
RESINCO CAPITAL PARTNERS INC. DEBT SETTLEMENT
Resinco Capital Partners Inc. has settled the outstanding incentive payment due to JRI Strategy Consultants Inc., a company owned by John Icke, the company's president and chief executive officer. The incentive payment pertained to fiscal 2010 performance.
In consideration, for full and final mutual release, the company has agreed to transfer three million common shares of Woulfe Mining Corp. into the name of JRI.
Given current depressed market conditions for junior resource investments, Mr. Icke agreed to discount the amount due to his company by a significant percentage, including waiving all outstanding accrued interest due in relation to the incentive payment.
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