Woulfe Mining Corp WFEMF

News Shares for Debt

[ark88]

Woulfe Mining to issue shares for debt, services 2014-10-27 16:13 ET - News Release Mr. Michel Gaucher reports WOULFE MINING CORP. ANNOUNCES PROPOSED ISSUANCE OF SHARES Woulfe Mining Corp., subject to approval of the Canadian Securities Exchange, has agreed with two of its creditors to settle debts totalling $49,925 by issuing in the aggregate 652,325 common shares of the company, of which 439,214 are being issued at a deemed price of seven cents per common share and 213,111 are being issued at a deemed price of nine cents per share. In addition, the company announces that it will be issuing 38,280 common shares, at a deemed price of 10 cents per common share, to one of its service providers in South Korea as partial compensation for continuing services. The common shares issued on the settlement of debt and for services will be subject to a four-month hold period from the date of their issuance. © 2014 Canjex Publishing Ltd. All rights reserved.

[guerreiro]

Perhaps; we can take this as a good indication that the Mine Project is well on the way and the creditors are not worried on taking the risk  for the services performed, shares with a four-month hold period. Do Your DD

[ahrg]

Good sign perhaps...Biernacki and Elvish Enterprises Pty. Limited where used for the APT Plant CCE and capital and construction cost part of the feasibility study in 2012. I'm guessing they are doing the same for the new work plan and have completed their part...

[chrisp6712]

Woulfe is paying it's debt with shares because they are broke. There are no other explanations. They are in a bad position. They could raise a few months cash flow by issueing 250,000 new shares but then the existing shares would plummet to .04 or .05 Canadian. This is not looking too good. Good Luck to all of us

[ahrg]

Actually it looks a lot less dead now than it has for a long time... Yes it looks like they have little cash -we have known this for some time. Its difficult to pay people in shares that are close to the project without them thinking that there is value in it especially with a 4 month hold period that takes it out past the maturity date of the IMC loans which would theoretically bankrupt the

[GaiusGermanicus]

The issuance is non-dilutative, taken from Woulfe's internal cache of shares, and thus while it effects the float it doesn't effect the number of AUTHORIZED shares, just the number current authorized AND issued. And we've known Woulfe was broke for MONTHS.  If this is news to you and you're just now finding out, then you don't spend enough time on DD to be investing in

[chrisp6712]

"wiling to buy ALL of Woulfe mining just to keep the Tungsten off the market." That's one of the goofiest things you have ever posed. Do you really think The Sandong mine has the potential to impact the world supply of Tungsten?

[GaiusGermanicus]

No, just the regional supply.  Unfortunately the western nations are now remilitarizing, something that will grossly increase the need in the western world at the SAME tine that China is building a blue water navy with three fleet carriers and the escorts and air wings to go with them.   One of the reasons for the WTC rulinig against China was to drop domestic supply so as to slow that