Not sure why they issued these shares now? Announcement indicates at cessation of mining activities. I didn't think they had started.
Per the December announcement:
"Calidus will issue 5,699,482 shares to Haoma and pay $12/t milled. In addition, within 12 months of cessation of mining activities, Calidus will undertake a full reconciliation of profit generated at spot gold by the operation and an adjustment will be paid by either party to reflect a 40% profit share is received by Haoma."
Lawyers tidying up the mess?????
DYOR
GLTA
Ann: Proposed issue of securities - CAI, page-2
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