OTCQX:BGMZF - Post by User
Post by
halcroon May 27, 2015 10:55am
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Post# 23769246
How can this Be: What would the BCSC/TSX say?
How can this Be: What would the BCSC/TSX say?The company’s new website proudly proclaims:
In 2015, significant accomplishments include:
Reduced debt by approximately $12 million
However, the company’s news release of 65 days ago states that the $3.85-million paper-for-debt transaction is “subject to all prior regulatory approvals”.
Inasmuch as the company still hasn’t released that it has received “all prior regulatory approvals”, therefore the $3.85-million debt must still be outstanding and, should this $3.85 million be part of the proudly proclaimed $12-million reduction in debt, then the website would be incorrect.
Barkerville to convert $3.85-million debt into shares
2015-03-23 09:08 ET - News Release
Mr. Greg Gibson reports
BARKERVILLE ANNOUNCES DEBT SETTLEMENT WITH LENDER
In addition to its recently completed debt settlement with its present lender, 2176423 Ontario Ltd., a company controlled by Eric Sprott, Barkerville Gold Mines Ltd. has agreed, subject to all prior regulatory approvals, to convert an aggregate of $3,854,649.33 in principal debt presently due and owing under its credit agreement with the lender into 14,276,479 common shares of the company at a deemed settlement and issuance price of 27 cents per common share.
We seek Safe Harbor.
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