OTCPK:GWAXF - Post by User
Comment by
babyofbullionon Oct 15, 2021 11:34am
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Post# 34009940
RE:Debt Conversion Breakdown and random thoughts
RE:Debt Conversion Breakdown and random thoughts Nice post Checkmate. We will hear from them very soon when Crux talks to Dan.
I am most interested in this part from the previous release where the conversion was announced. Does this mean Gowest will now receive payment for the concentrate? It was initially prepaid, and now the debt arising from that has been converted to shares so we must be due the funds, right?
- Inner Mongolia Jinshengda Investment Co. Ltd. (“Jinshengda”) will convert $5,858,552 of principal and accumulated interest into 23,434,208 shares, representing approximately 15.2% of the Gowest shares to be issued and outstanding following the completion of the Transaction. Jinshengda acquired its debt, at par, by assignment from Shandong Humon Smelting Co. The debt owed to Jinshengda will be satisfied in full pursuant to the Transaction.