Signal Gold Inc T.SGNL

Extremely low risk financing.

[shiftyone]

There is next to no risk to this financing.

For Nebari

Any accountants out there that can explain this to me?

I read this post earlier.

RE:The Financing - Point Rousse

GoldNHill - (2/17/2023 8:03:14 AM)

The Financing - Point Rousse

This is a great use of the hard assets at PR.

"The financing will be secured by a pledge of shares in favour of Nebari on the Company's material Subsidiaries, namely Goldboro Gold Mines Inc. and Point Rousse Mining Inc., together with security on substantially all of the Company's material real and personal property."

It is a very low risk financing for Nebari.

Does this mean we just signed the whole company and all it's assets as collateral for a $16 million dollar loan?

To be paid by development  (maybe not the right word) financing?  Fall of 2023?

But it's for 2 years with the company option to extend it for another year?  Those conditions cost extra.  Why pay extra if we are actually going to get the financing in the fall?

They have point rousse as collateral.  So if and when we sell Pointe Rousse, do we have to give them the proceeds?

I asked earlier, but instead of an answer got taught a lesson in etiquette.

Just curious.

Do they have the whole company as collateral?