TSXV:FCO.H - Post by User
Post by
AyuFanon Feb 25, 2018 10:00pm
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Post# 27618760
Mensac Capital Injection and Off-Take Agreement Signed
Mensac Capital Injection and Off-Take Agreement SignedOriginal News Release from Mensac
https://pdf.dfcfw.com/pdf/H2_AN201802251094417883_1.pdf
Summary
- equity ownership of 9.9% (not sure if that's from recent bought deal or additional dilution, did not disclosed purchase price). Additional Capital ownership may occur after regulatory approval to own up to 19.9%.
- Mensac may provide up to $80MM USD financing (less equity purchase amount)
- One clause of the agreement specify that all capital injections/financing must be used to the Idaho Project.
- Mensac will purchase 50% or more of cobalt from mine at a negotiated priced to be determined each year.
Good News or Bad?
Draw your own conclusion