SSRIF Silver Standard Resources Message Board

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Gold/Mining/Energy : SSRIF Silver Standard Resources

SSO 115.13

+0.6%

Nov 5 4:00 PM EST

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To: EZbeliever who wrote (219)	9/16/1998 9:53:00 PM
From: ForYourEyesOnly	Read Replies (1) of 403

Agreement with Global: <<In this case Black Hawk provided the concession, Global the cash, and SSRIF the expertise.>> This does not quite match the content of the press release. Pls reread the release and you will see that SSO is providing the capital by loaning Global $1.54 and also buying 80% of the shares of Global. "Under the terms of Silver Standard's agreement, Silver Standard will acquire 50 percent of Global's interest by loaning Global approximately US$1.54 million in five installments to meet its required payments to Black Hawk by March 31, 1999. In addition, Silver Standard will enter into a $2.0 million subscription for units of Global. Each unit will consist of one common share and one share purchase warrant. On exercise of the warrants, Silver Standard will have invested approximately $4.0 million and hold approximately 80 percent of Global. Global has granted Silver Standard a right of first refusal on future financings and Silver Standard, through Global, will be operator of the project through feasibility. The agreement is subject to Vancouver Stock Exchange approval." THC

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