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Arcan Resources Ltd ARNBF



OTCPK:ARNBF - Post by User

Post by teeveeon Jun 24, 2014 12:00pm
364 Views
Post# 22689622

the bottom line.....

the bottom line.....The banks  fired a shot across the bow when they cut the line of credit by $10 million. If the shareholders and debenture holders vote against this plan, they are at risk of the bank pulling the plug and fire selling all the assets held as collateral against the line of credit. Under that scenario, equity gets zero and debenture holders would be lucky to get $.50 on the dollar. The only upside to the plan would be if a 3rd party stepped up, offering a better deal, and I doubt that will happen as a large shareholder like Crescent Point would most likely prefer to buy ARN's assets from the bank after they called the line of credit. 
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