Woulfe Mining Corp WFEMF

RE:RE:RE:RE:RE:RE:RE:RE:Preferred shares

[kilgor]

Yes..... but Dundee doesn't control the majority of the shares. It wouldn't be a smart business move to state they want everything without initial consultation and consent from the other majority shareholders who have the power to make the decision.

I think the decision has already been made, and this is just a formality.

For instance... 2nd paragraph on page 6:

The Corporation considers that the Offering, and thereby the creation of the Preferred Shares and the special rights and restrictions associated therewith to be in the best interests of the Corporation. The Corporation is in serious financial difficulty and faces several immediate payables, including the $10.0 million loan advanced to the Corporation's subsidiary, Sangdong Mining Corp., by IMC International Metalworking Companies B.V. which becomes due on February 28, 2014. The Offering will improve the financial position of the Corporation and is reasonable in the circumstances of the Corporation, which has been unable to obtain any financing on any better terms.

Immediate payables..... IMC $10M loan due in two weeks.  If you have to pay off the loan in two weeks, why the hell try to raise $4M of which none of it is allocated to pay that debt but proceed with getting the mind ready for production.  I don't think they are that out to lunch.

I wonder if this is all a little too dramatic i.e. the news releases are true, but paint a skewed picture i.e. is not the full truth, in an attempt to indirectly suppress the share price so that they can gain more control by purchasing newly issued shares.  These guys didn't become filthy rich by playing nice.