Visthefuture - here is an excerpt of the judges’ findings "[76] The above findings remain, in spite of the letter from VanadiumBank Inc., which Canada Inc. filed the day before the hearing.
24 This letter is presented as a new “financing
proposal” in favor of Canada Inc. for up to $125M in support of its bid.
[77 VanadiumBank
25 Notwithstanding its name, it is not a bank
lend funds out of its own pocket, but rather to arrange a loan facility after seeking and obtaining the required financing from third parties in the market.
[78] In other words, with VanadiumBank’s proposal, Canada Inc. is nowhere closer to achieving its financial goals before the proposed extended Phase 2 Bid Deadline. The Court therefore gives no weight to VanadiumBank’s letter."
Visthefuture, if you want the entire document email me : po@juniormining.com