CityView is pleased to announce that Endiama acknowledge the grant to CityView of the exclusive right to acquire 100% of Canzar Resources plc (“Canzar”), CityView has paid US$1,030,000 as a 135 days option and shut out fee to purchase 100% of Canzar at a price to be determined on a fair value basis during the due diligence and independent valuation process.
Then
As CityView will become the ultimate holding company of all the group subsidiary companies, CityView's option over Canzar ceases to be relevant and will be relinquished. ...........................
CVI sold 75 million shares through Global last year? and CVI paid Global $1,705,000 "share issue fees" for this service. Not bad Hey! ..................................
A while ago CVI made an interest free loan of $670,601.00 to Glenvale Associates. The terms of the loan state that Glenvale Associates will repay the loan to CityView on the successful development and commercial exploitation of the Longonjo lease in Angola held by Glenvale Associates. On 21 June 2007, CityView acquired control of Glenvale Associates and is therefore consolidated within the CityView Group. The loan has been taken up on consolidation of Glenvale into CityView. No need to pay it back ..................................
CVI paid US$1.39 per fortitude share .... Who got the money???
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How does a company as small as CVI spend so much on admin and "various" expenses. How many hunders of thousands to shonk consultants??? ...................................
How much money went into "analysing" projects such as Offshore oil..... money into whose pockets. .......................................
Fortitude owes CVI some $9 million from memory. Do you really think they will get it back ... or will CVI accept a "$2" African coal concession in exchange for the loan. ........................................ Lots of ways to get money into people's pockets.
CVI Price at posting:
0.7¢ Sentiment: None Disclosure: Held
