Ann: Director Appointment, page-22

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VivaLaVida

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04/10/18

10:34

Post #: 35990659
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Originally posted by qqqqqqqqq ↑

Batboy - yes Batboy this is great news as you say

Annual report pages 26 and 27

''Right to nominate a person to be appointed as a director to the Board (in addition to the current CRH Nominee Director, Mr Andrew Allan) and a further right to nominate another person to be appointed as a director to the Board should the Capital Raising not result in $6,000,000 raised within the shortfall period (3 months after the close of the Entitlement Offer).

iii) Continuation of specific default triggers - those typically included in financing arrangements such as; ‘failure to pay’; ‘event of insolvency’; ‘material breach’; ‘misrepresentation’; ‘loss of lease, right, license, or approvals’.

iv) Putting in place a ‘fiduciary lien’ or security charge over plant and equipment owned by the owner and operator of the Cascavel Gold Mine (Mineracao Curral de Pedra Ltda) in addition to security being provided over all of Orinoco’s Brazilian assets.

As at 30 June 2018 the Group had completed a Remedial Action plan, a budget and recommenced operations as required under the terms of the Gold Stream. All standstill payments were made along with the issue of compensation shares and options. The cash equivalent of 1,000oz was repaid to CRH during the half year ended 30 June 2018 with a further 1,000 paid during August 2018. ''

Payment of another 1000 oz in August 2018 - CN $2m draw down imo

DYOR

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CRH 1000 oz payment was made in Aug.

The first Magna CN weren't issued until 7 Sept.

OGX Price at posting: 2.8¢ Sentiment: Buy Disclosure: Not Held
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Ann: Director Appointment, page-22

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