RE:Chillyball where do get theses bs numbers from. beatmesilly You believe my numbers are BS... show us yours....!?!?!? Prove me wrong!!!
...and I am confused...am I a pumper or a basher... tough to be both...
My bs numbers come from the press release on the financing...they are actually called facts but let me show the numbers. See below for the actual release...
Current Shares - 541.82 Million Shares
!st Tranche - 59.5 Million Shares
2nd Tranche - 331.1 Million Shares
Promissary Note - 273.4 million shares
Total - 1,205,820,000 yes thats BILLION!!! ...a promissory note in the aggregate principal amount of US$12,303,006 (the "Promissory Note"The
Promissory Note will be unsecured and will bear interest at the rate of 12% per annum. In addition, the principal amount of the Promissory Note will be convertible into Shares at a conversion price equal to 3.21p
(US$0.045302) per Share.
The Promissory Note will automatically convert into Shares concurrently with the closing of Tranche 2 of the Offering Equity Financing Overview
The financing will be completed as a non-brokered private placement (the "Offering") with two tranches as follows:
- Tranche 1: 59,533,674 common shares of the Company (the "Shares") at a price of 3.21p (US$0.045302) per Share and a promissory note in the aggregate principal amount of US$12,303,006 (the "Promissory Note") to MNG Gold for aggregate gross proceeds of US$15 million at closing; and
- Tranche 2: 331,111,209 Shares at a price of 3.21p (US$0.045302) per Share to MNG Gold for aggregate gross proceeds of US$15 million to be completed upon clearance by the Toronto Stock Exchange ("TSX") of the personal information forms respecting Mehmet Nazif Gnal and Murathan Doruk Gnal, and any other personal information forms required by the TSX in order to complete Tranche 2 and make the Promissory Note convertible ("Required PIFs").
The Promissory Note will be unsecured and will bear interest at the rate of 12% per annum. In addition, the principal amount of the Promissory Note will be convertible into Shares at a conversion price equal to 3.21p (US$0.045302) per Share. The Promissory Note will automatically convert into Shares concurrently with the closing of Tranche 2 of the Offering and following the date the Company receives notice from the TSX that the Required PIFs have been cleared. The Promissory Note will be due and payable on the date that is six months from the date of issue, subject to acceleration at the option of MNG Gold in the event the Required PIFs are rejected by the TSX. For so long as the Promissory Note remains in existence, the Company has agreed that it shall seek MNG's written approval to conduct certain reserved matters that could impact upon the value of MNG's investment in the Company.