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Eco Oro Minerals Corp C.EOM

Alternate Symbol(s):  GYSLF

Eco Oro Minerals Corp. is a Canadian precious metals exploration and development company. The Company was focused on the development of the Angostura Project in northeastern Colombia, which consists of the main Angostura deposit and its five satellite prospects. The International Centre for Settlement of Investment Disputes (ICSID) Arbitration Claim became the core focus of the Company.


CSE:EOM - Post by User

Comment by TiredofWatingon Jul 08, 2024 10:15am
104 Views
Post# 36122623

RE:RE:RE:RE:DISTRIBUTION WATERFALL

RE:RE:RE:RE:DISTRIBUTION WATERFALLThis is from the March 2024 managment discussion filings. 

Can you reconcile bullets 3 and 5?  My reading is that bullet 3 means that 100% of the first $460M goes to the CVRs and that bullet 5 means that anything above the $460 will see 95% go to the CVRs.  Again, I could be reading this wrong.  I hope that I am.  


https://sedar-filings-backup.thecse.com/00003568/2405300956326865.pdf

Page 10.  Bullets 1-6.   Bullet #5. 

1) to the holders of the CVRs and the Notes, an amount equal to the accrued and unpaid default interest, fees, expenses or indemnity obligations in respect of the CVRs and the 2016 Notes;

2) to the holders of the Notes, an amount equal to the aggregate amount of interest and indebtedness owed by the Company to the holder of the Notes (of which approximately US$24.7 million is outstanding as of the date hereof);

3) to the holders of the CVRs and eligible participants (“MIP Participants”) in the MIP (as defined below), an amount equal to the lesser of (i) US$460,000,000 and (ii) 95% of the Claim Proceeds;

4) to the Company, US$30,000,000;

5) to holders of the CVRs and the MIP Participants, until the aggregate distributions to such persons equals 95% of the Claim Proceeds; and

6) to the Company, the balance (if any) of the Claims Proceeds. 
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