Arcan Resources Ltd ARNBF

SERIOUSLY??

[pennydredful]

You  going  to  vote  to  exchange  your  bond  for  a penny stock with  more than  a billion shares  outstanding  that  will  likely  open  trading   at  below   5 cents  ??

[teevee]

Sadly, if debenture holders vote no, they are only defering conversion to shares as stipulated in the debenture terms and conditions. When the debentures come due, ARN has no choice but to pay them out with stock at market prices. Of course this is all assuming the banks don't pull the plug before then, especially when  you consider what will happen to their LOC in light of today's

[pennydredful]

"Pay   them  with  stock  at  current  prices "   correct   but with  the  current   deal   they   are  being  paid   with   stock    at    2  times  the  market  price    ie   .15 

[mike49]

they would only be deferring if a majority made them.terms don't nessecarily say that stock has to be issued in lieu of original capital/interest. this is a move by arn and some holders to forestall banko and/or change of ownership. so the the guys in the room who thought they were all bent over together have to live lord of the flies and get it again. what a friggin mess.

[flush777]

I just purchased shares at a nickel a share this morning based on an article in todays Globe and Mail. I am just reading some of the older articles on Stockhouse and I would like to comment that you were quite correct on Jan 16, 2015 that the go-forward price would be a nickel. I think that this stock is a BARGOON however I am concerned about the rollback but since the stock price has tanked