You've been told.
By The Fonz.
On December 31, 2013 the Company received a proposal from these noteholders and Sandstorm Gold Limited ("Sandstorm") which, if implemented would offer the Company the ability to carry on business activities past December 31, 2013 with a view to its potential sale or future recapitalization. However, existing holders of common shares would experience massive dilution to the point where they would, in aggregate, hold approximately 1.7% of the outstanding common shares after giving effect to the terms of the proposal.
"...to effect a recapitalization and financing transaction (the "Recapitalization"). The Company expects further support of the Recapitalization from additional holders of Convertible Notes.Jaguar's Board of Directors has determined that the Recapitalization offers substantial benefits to the Company and is in the best interests of the Company and its stakeholders. Among other things, the Recapitalization results in a significant reduction of the Company's debt, increased liquidity for Jaguar's operations and allows the Company to make certain necessary capital investments and accelerate operational improvements.
An extensive review process has shown that the Recapitalization is the best available alternative for the Company."
Yup, tough market. This from Anconia Resources (ANA.v) on December 20th:
Anconia Resources Corp. (TSX VENTURE:ARA) ("Anconia" or the "Company") announces that it proposes to complete a non-brokered private placement offering (the "Offering") of units ("Units") and flow-through units ("Flow-Through Units"), at a subscription price of $0.10 per Unit and $0.12 per Flow-Through Unit, for aggregate gross proceeds of up to $2,100,000. continues hereAnd this from Anconia Resources (ANA.v) post-close Dec 31st:
Anconia Resources Corp. (TSX VENTURE:ARA) ("Anconia" or the "Company") is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement offering (the "Offering") (see the Company's news release dated December 20, 2013) issuing 416,665 flow-through units ("Flow-Through Units") at $0.12 per Flow-Through Unit, for aggregate gross proceeds of $50,000. continues hereNuff said
TORONTO, ONTARIO--(Marketwired - Nov 25, 2013) - Cadillac Ventures Inc. (TSX VENTURE:CDC) (CADIF) ("Cadillac" or the "Company") announces that it intends to complete a non-brokered private placement offering of units ("Units") at Cdn$0.05 per Unit and flow-through units ("FT Units") at Cdn$0.06 per FT Unit for aggregate gross proceeds of up to Cdn$1.5 million (the "Offering"). continues hereAnd here's Cadillac Ventures (CDC.v) six weeks later today, post-close Dec 31st:
TORONTO, ONTARIO--(Marketwired - Dec 31, 2013) - Cadillac Ventures Inc. (TSX VENTURE:CDC) (CADIF) ("Cadillac" or the "Company") is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement offering of units ("Units") at Cdn$0.05 per Unit and flow-through units ("FT Units") at Cdn$0.06 per FT Unit, issuing 200,000 Units and 2,090,666 FT Units for aggregate gross proceeds of $135,440 (the "Offering"). continues hereNuff nuff said.
Found on Twitter this morning, this is something to behold.
1) The hack hasn't thought through the piece to the extent where true conclusions can be drawn2) The hack doesn't have the guts to make a statement and invite pushback from their target3) The hack is making shit up in the guise of real news and is using the device as a way of avoiding a libel case.
It's when they just run out of BS. Here's Colossus (CSI.to) this afternoon:
December 30, 2013
Colossus Minerals Announces Director Resignations
TORONTO, ONTARIO--(Marketwired - Dec. 30, 2013) - Colossus Minerals Inc. (TSX:CSI) (OTCQX:COLUF) (the "Company") announced today that Messrs. Douglas Reeson and Greg Hall have resigned from the board of directors. At this time, no replacement candidates have been identified.
Messrs. John Frostiak and Alberto Arias remain directors of the Company.
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