Western Resources Corp T.WRX

Pretty tough terms but no choice.

[classicact]

1. a six-year term loan facility of up to USD equivalent of C$85,000,000, at an interest rate of 12.5% per annum.

2. the grant of a 1.5% royalty based on the gross revenue of the Project to Appian; and

3. the issuance to Appian by the Company of 20,774,030 warrants ("Warrants") as part of the consideration for the Facility, which will allow Appian, after exercise, to acquire up to 20,774,030 common shares of Company, which currently represents 11.1% of the Company's issued and outstanding common shares, and will represent up to 9.9% of the Company’s issued and outstanding common shares on a post-transaction basis. The main terms of the Warrants are as follows:

[JohnnyA]

Exactly. Tony Soprano terms. I wonder how diluted the shares will be at the end of May with that Vantage deal?

[mdjbrown]

The Facility Agreement for the term loan docs are available on SEDAR.. Looks like WPC Jersey is keeping a tight rein on things, which is a good thing

[JohnnyA]

Been a WPC and WRX bag holder since 2009. Patricio Varas and the Chinese have screwed us over big time. All this so called financing is not for shareholders, it is for you know who.