RE:RE:Pala buys more >>> private transaction >>>From the notes in Q1 this is what the February Pala "Insider transaction" was:
b) Cementation Claim In February 2021, the Company entered into a settlement agreement with its former contractor, Cementation USA Inc. (“Cementation”), to resolve litigation relating to the mining development contract for the Underground Mine. As part of the settlement, NCI paid Cementation $1,000 upon release of the related bond and will pay Cementation $9,000 in instalments beginning September 2021, which $9,000 is guaranteed by Pala. Under a fee agreement between Pala and the Company (the “Guarantee Agreement”), a 5% fee of this guaranteed amount, being $450, was payable by the Company to Pala.
This fee was satisfied by the Company through the issuance of 3,560,024 common shares to Pala in February 2021, representing a price per common share of CAD$0.1621, being the current market price of the common shares when the Guarantee Agreement was entered into. The court has dismissed all claims and the $3,382 bond issued in connection with the dispute has been released. The Company’s consolidated financial statements at March 31, 2021 reflects the terms of the settlement agreement.
It is likely that this last one represents a similar transaction of debt settlement.
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Notgnu wrote: This Pala buy values the regular warrants at 1 cent time value and the A warrants at about 5 or 6 cents time value... bargoon IMO.
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Notgnu wrote: Insiders are still blacked out but this is an exempt transaction
| Filed 2021-06-02 15:17 Tx date 2021-06-01 | $NCU
Nevada Copper Corp. | Iorich, Vladimir 3 - 10% Security Holder of Issuer Holder: Pala Investments Limited (Indirect Ownership) | Common Shares 11 - Acquisition or disposition carried out privately | $1,057,602
+3,866,921 vol
$0.2735 each | 689,780,654 |
Cheers,
Notgnu