Exall Resources/Glimmer Resources Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Exall Resources/Glimmer Resources

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Winzer who wrote (1140)	6/5/2000 10:23:00 AM
From: Winzer	Read Replies (1) of 1319

Glimmer updates two financing arrangements Glimmer Resources Inc GME Shares issued 6,028,962 May 30 close $0.46 Wed 31 May 2000 News Release Mr. R. D. McCloskey reports Glimmer Resources has reached agreement in principle to two financing arrangements, subject to due diligence and regulatory approval. McChip Resources Inc., Glimmer's major shareholder, has agreed to subscribe to 250,000 common shares of the corporation for 60 cents per share by means of a private placement. In an unrelated transaction, the corporation has reached agreement in principal with Tom Capital Associates and its nominees to amend the conversion rates and extend the maturity dates of outstanding convertible debentures. Under the amended agreement the parties have agreed that the debentures for $1.5-million and $500,000 will be convertible into common shares at 66.7 cents per common share on or before June 4, 2002, if acceptable to the Canadian Venture Exchange. Both debentures will bear annual interest of 8 per cent, payable quarterly. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com If anyone got a copy of the Exall Annual report; it makes for excellent reading. See SEDAR. The newest twist is that Exall has TWO "warnings" to their shareholders that GME can becoming the controlling shareholder. For those of us following this impasse; this could be the summer that the impasse is broken. What is the purpose of the above PR from GME? It all started when EXL allegedly took a run George Kent, who in turn ran to RMcCloskey for help. This financing from McChip is proof (to me at least) that Rm and his "troops" are not going to be intimidated by the Roman Empire (and where are they now?). ALTERNATIVELY, there could be a new spirit of co-operation and these funds could be used to assist with GME's share of the capital expansion (mill to save $50/oz and ore body extension) Where are the sellers( 95c to 50c is quite a spread - ~100%)? We have the usual loafers looking to pick up a couple of deep discount shares (at 50c). Comments Winzer

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next