Silicon Investor (SI) -- The First Internet Community

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 : Greenstone Resources GRE.T or GRERF OTC -- Ignore unavailable to you. Want to Upgrade?

To: Tom Cat who wrote (925)	7/22/1999 8:42:00 PM
From: Stephen O	Read Replies (2) \| Respond to of 1005

If GRE will reach 50c, then BHK will reach $1.

To: Tom Cat who wrote (925)	7/30/1999 8:59:00 AM
From: Joe Gun	Respond to of 1005

Greenstone enters into debt restructuring discussions TORONTO, July 30 /CNW/ - Greenstone Resources Ltd. reports that the Company has been engaged in discussions with its bondholders and lenders with a view to effecting a recapitalization. The intent of these discussions is to maintain the integrity and viability of the operations for the benefit of all stakeholders. Greenstone also reports that its revolving line of credit with Gerald Metals, Inc., Hamilton Bank, N.A. and Banco Latinoamericano de Exportaciones of US$18.7 million matured yesterday. This creates an Event of Default under the Note Indentures dated February 27, 1997 and September 3, 1998, whereby the bondholders may elect to accelerate maturity of the principal of the Notes which would result in Cdn$100M and US$5.35M becoming due and payable immediately. The Company continues to be in active discussions with a significant element of the bondholder and lender groups and is confident that an accommodative solution can be achieved. The Company's two principal producing assets are the San Andres Mine in Honduras and the Cerro Mojon Mine in Nicaragua. Greenstone's shares trade on The Toronto Stock Exchange (GRE) and The Nasdaq Stock Market (GRERF).