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5/17/19

Henk van Alphen, loan shark

This out of Cardero Resource (CDU.to) this Friday evening:

Vancouver, British Columbia - Cardero Resource Corp. (“Cardero” or the “Company”) (TSX: CDU, Frankfurt: CR5), reports that, subject to TSX Venture Exchange (“TSXV”) acceptance, the Company has secured loans in the aggregate amount of $150,000 (the “Loans”) with certain Directors of the Company (the “Lenders”).
The Loans have a two year term and bear interest at a rate of 12% per annum compounded annually, payable on the maturity date. The Company has agreed to issue in aggregate 3,000,000 non transferable bonus common share purchase warrants (each, a “Bonus Warrant”) to the Lenders. Each Bonus Warrant will entitle the holder to purchase one common share in the capital of the Company at an exercise price of $0.05 per share for a period of two years. All securities issued pursuant to the Loans will be subject to a hold period of four months and one day in Canada from the date of issuance. The funds available from the Loans will be used for general working capital.


What part of "we do not care about anyone except ourselves" do you not understand?