Woulfe Mining Corp WFEMF

IMC Subscription Agreement Deadline February 26, 2014

[StockExpertPro]

This upcoming deadline with IMC will be a good test for the new BOD. Hopefully the new WOF board of directors will be hard-nosed businessmen who get what they want in negotiations with IMC. Management needs to put in firm dates so the company will not be jerked around this time, if they allow IMC to retain a 1 year extension on exclusive rights to the Sangdong tungsten project.
There is no excuse for allowing IMC to get one over on Woulfe Mining this time around. WOF now has a new & improved "dream team" on the board of directors. Surely they can renegotiate these terms with IMC to become more favorable to Woulfe Mining. If IMC does not finalize the strategic agreement by the Febuary 2014 deadline. Then all bets should be off the table. WOF could regain another 40% ownership of the Sangdong tungsten project if IMC declines to renew the subscription agreement with more favorable terms to Woulfe Mining.
The new board of directors could demand a $10 million dollar BONUS provided to Woulfe Mining for the inconvenience and as down payment for their percentage of ownership on the tungsten project. I see no reason why WOF should have to pay back $10 million with interest if they get this in writing as a bonus or down payment.
The previous two $5 million dollar loans from IMC were a mistake and the result of poor negotations and weaker board of directors. A $10 million BONUS or down payment to WOF would cover the new work plan and adminstration costs in 2014, plus provide a $1 million dollar surplus.

https://www.reuters.com/article/2013/03/04/idUSnMKW89a+38+MKW20130304

Pursuant to the Amendment Agreement, the parties have agreed that the
outside date for the completion of the transactions contemplated by the
Subscription Agreement shall be extended until February 26, 2014. The
parties are however working towards completion of the transactions
contemplated by the Subscription Agreement as soon as is feasible.