Dave, as I was writing post to Phil, you sneaked in. So I'll post it
now, with additional wondering of: Does the 60 days period means that
all issues have to be made by this time, or can thing drag on and on.
Phil, good questions. Follows are the two posts from Dave. I include the
link and copied a portion of each. 60 days from Nov 19 is late Jan, and the
<< less than 46% >> item could be a wildcard, maby.
(1)
Message 6489769
From: Dave R. Webb, Thursday, November 19, 1998
Mongolyn Alt Corporation ("MAC") to sell their entire interest to the
Trade and Development Bank of Mongolia, (the "Bank") in satisfaction
of their indebtedness to the bank of US$3.0 million.
... our right of first refusal be considered
... the Company has 60 days
... to match or better the terms of the transaction
Dr. D.R. Webb, President, Investor Relations (604) 681-2877
Website - stockgroup.com
(2)
Message 6495908
From: Dave R. Webb Friday, Nov 20 1998 8:51AM ET
MAC has conceeded that it does not own 51% of Bumbat.
They have two options.
1. Reduce by dilution clauses to less than 46%
2. Contribute US$940,000 plus interest at 0.1% per day on any deficiency...
Dave (Dr. D.R. Webb, President)
[end of copied posts]
Doug |
