SI
SI
discoversearch

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.
Strategies & Market Trends : Dino's Bar & Grill
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Goose94 who wrote (1141)1/24/2014 5:39:24 PM
From: Goose94Read Replies (1) of 203026
 
Archer Petroleum (ARK-V) Jan 24, '14 has entered into a share exchange agreement with Global Resources Investments Ltd. (GRIL), a United Kingdom-based company, pursuant to which Archer will, on closing, issue six million common shares (no warrants) of Archer to GRIL at a deemed price of 24.5 cents per share ($1.47-million) in return for 802,095 ordinary shares of GRIL at a deemed price of one British pound per share ($1.84).

GRIL was established to finance investments in the junior mining and natural resources sectors around the world, and intends to reregister as a public company and investment trust upon admission of its ordinary shares for listing on the London Stock Exchange. Closing of the agreement is subject to certain conditions, including the admission of the ordinary shares of GRIL on the LSE's main market for listed securities becoming effective.

Archer intends to use the net proceeds from the subsequent sale of GRIL shares through the facilities of the LSE to finance the acquisition of additional prospective tar sands in the United States, commence permitting on the company's 100-per-cent-owned Davenport project and for general corporate purposes. As a term of the transaction, GRIL has agreed to certain resale restrictions on the Archer shares it receives.

Any Archer shares issued to GRIL in connection with the agreement will be subject to a hold period of four months and one day under applicable Canadian securities laws.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News