Post by
pennydredful on May 23, 2020 2:00pm
May 22nd update
Receivership process extended to Oct.9 2020 . 20M injected into the company about 13.5 by Luminus in 4th position and the balance by ATB in third position . Presumably any govt. payables are in first , receiver fees and cost of process with the bank debt bot out by Luminus in 2nd. Possible uses pay off the bank debt now held by Luminus about 15M+or minus . Pay April 15th note interest 3M . Pay any overdue payments to govt. or trades , receiver and process fees. No information is offered re the use of the $$$ . Perhaps that has yet largely to be determined ?? Not sure if the ATB participation is an attempt to sart up a new bank facility. ??