MyTake: FT Will TAP OUT LIND CD In NEXT THREE WEEKS First Convertible Security:
$ 1,600.000.00
- of which $ 1,250,000.00 was the FUNDED AMOUNT
- WITHIN 3 WEEKS, FT will GIVE NOTICE to LIND that they will REQUIRE an ADDITIONAL FUNDING of $ 8,750,000.00
- this will CREATE a Second Convertible Security of
$ 11,200,000.00
- they will be DUE or BE CONVERTED in TWO YEARS TIME
- FT will REQUIRE this EXTRA FUNDING to:
a- TO COMPLETE the JFSL property site acquisition:
* $ 4,062,500 + TRANSACTION and LEGAL FEES
b- pay the 25% NON-REFUNDED PERMITTED EXPENSES under the Natural Resource Canada CONTRIBUTION AGREEMENT
* MAXIMUM $ 2,500,000.00
c- HAVE ENOUGH CASH ON HAND to PAY the SGS and FEED INVOICES as they BECOME DUE but BEFORE they are CASH- REFUNDED by Natural Resources Canada
z173