Resource Capital Gold Corp GDPEF

RE:RE:Quick update

[lmcbain]

Hi Sunnyv,

I would not be surprised if the Exchange was to negate the originally tabled deal with American Iron, as they have not provided the requisite value as outlined in the announced deal.

As understand it George Young has acquired the leases that have been recently referenced himself, while he has been representing Reliance and that they have been acquired in the name of a Minnesota registered company that is a wholly owned subsidiary of Reliance. The result being that we appear to be moving in the announced direction in terms of the business plan, but have done so without a merger / acquisition required to do it. 

If that is indeed the case, then we should be proceeding without the merger / acquisition with American Iron and Gary's position with American Iron will be irrelevent. I would expect the exchange to view things in this manner, but we don't know for sure until the financing is actually announced, the rollback occurs and the American Iron deal is either officially announced as consummated or quashed.

Salut,
Leigh McBain