RE:RE:2 weeks of trading suspensionGoldenIdle wrote: Halted for iron ore property in Brazil ... if you skip to last sentence in following excerpt from recent news release
The LOI outlines the terms for an Asset Purchase Agreement ("APA") between Max and Jaguar to purchase Florlia Mineral Right n° 832.022/2018 ("Mineral Right"). Jaguar and Max are arms length parties and as a result of the transaction, no new insiders or control person will be created. There are no finders fees or commissions payable in connection with the Transaction. Max has paid a USD $100,000 non-refundable deposit.
Remaining cash payments:
- USD $200,000 within five business days following the effective date of the APA.
- USD $300,000 within five business days of Max transferring the Mineral Right to wholly owned subsidiary of Max incorporated in Brazil.
- USD $200,000 within five business following the date of 6 months from the effective date of the APA.
- USD $200,000 within five business following the date of 12 months from the effective date of the APA.
The transaction will be a Fundamental Acquisition as defined by the policies of the TSX Venture Exchange (the "Exchange") and is subject to approval of the Exchange and Max completing all filing requirements and shareholder approval, if required. Trading will remain halted pending receipt and review of acceptable documentation pursuant to Section 5.6 (d) of TSXV Policy 5.3 regarding a Fundamental Acquisition.
Trading was halted on the same day as the May 13th press release. The iron ore acquisition (from which you quoted) was announced three days later on May 16th. So, I don't get it.
Still no official explanation from the company and timeline when the trading halt will be lifted.