Captiva Verde Industries Ltd ARDWF

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[desertmule]

Captiva Verde delays debenture financing; CFO resigns Captiva Verde Industries Ltd (C:VEG) Shares Issued 63,465,871 Friday October 7 2016 - News Release Mr. Ross Drysdale reports CAPTIVA VERDE CORPORATE UPDATE Captiva Verde Industries Ltd.'s single secured creditor has withdrawn its extension of its credit facility. As a result, the company is compelled to delay its previously announced private placement of convertible debentures until this issue has been resolved. The company also advises that its chief financial officer, Lisa Dea, has tendered her resignation. The directors would like to thank Ms. Dea for her contributions to the company and to wish her all the best in her future endeavours. We seek Safe Harbor.

[cochrane29]

It's dead

[HammyHamster]

This post has been removed in accordance with Community Policy

[cochrane29]

Without the debuntures with no revenue no credit line no financing and 5 million in debt are we to assume Jeff who was recently fired is going to float more of his own money to survive the next few quarters until they start to turn the corner in production?

[caliche]

hammy is right .. they arent going to let this go for 500K deb-enture downer probably panicked when the convertible didnt close  it will get sorted and he will be crying he didnt roll the 500K into the convertible at .15

[trojanx]

I also agree with hammy this deal is far from being dead. The five hundred grand it's not something new they were going to have to deal with it sooner or later. They will clean it up and move on with the financing over the next couple weeks The insider own close to 18 million shares they're going to do whatever they have to make this work. My broker says the rumor on the street is that

[cochrane29]

It's never a good sign when CFO resigns in the same announcement of a failed financing. Hopefully there will be greener pastures ahead. 

[TheCapitalist]

Agreed. It's definitely not a good sign.

[caliche]

probably left because her options were not renewed..that and it was probably her call to write off the 9 mil against revenues..  financing not failed.. just didnt make the deadline  the 500K would have had to have been dealt with by haloween anyhow.. get it out of the way now..

[HammyHamster]

This post has been removed in accordance with Community Policy