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4/11/16

"The Company is taking the notifications seriously"

Isn't that the coolest thing to say? Almost as cool as "continues to review and consider its alternatives", as those options are basically a case of deciding into which orifice they should accept deep penetration by Waterton's large and throbbing member.

Yes indeed, Waterton snatches everything away from yet another company stupid enough to have borrowed its money. That makes three hundred and fifty-six and counting...or at least it feels that way.

SASKATOON , April 8, 2016 /CNW/ - Golden Band Resources Inc. ("Golden Band" or the "Company") (GBN.V) announces that its senior secured lender, Procon Resources Inc. (the "Lender"), has made demand upon the Company for payment by April 18, 2016 of all amounts due and owing by the Company under the credit agreement originally between the Company and Waterton Global Value, L.P. dated August 3, 2012 which, as of the date hereof, are approximately $19.6 million , exclusive of professional fees and costs. In addition, the Company has received a Notice of Intention to Enforce Security under section 244 of the Bankruptcy and Insolvency Act ( Canada ) from the Lender.
The Company is taking the notifications seriously and continues to review and consider its alternatives to resolve the situation. At present, there can be no assurance as to what, if any, alternatives might be pursued by the Company.
About Golden Band


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