POISON PILL Lascaux had a chance to seize NICO and Arctos in 2015 when FT defaulted but did not.
Now they hold a bag of 72 million worthless FT shares.
NEWS: Dec 12, 2022:
- Debt totalling C$7,280,173, including principal and interest, has been retired through the payment of an aggregate of C$1,250,000.00 in cash (the “Cash Payment”) and the issuance of an aggregate of 73,500,000 common shares of the Company (“Shares”) to settle the balance of C$6,030,173 due to this holder, at a price of approximately C$0.082 per Share, representing an approximately 17% premium to the closing price of the Shares on the TSX on November 30, 2022 (the “Share Payment”)
- The Shares issued pursuant to the Settlement are subject to a four-month hold period
- The term for C$5,461,376 of the 2015 Debentures held by a different party was also extended to December 31, 2023