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Claude Resources, Inc. Message Board

  • markedtofuture markedtofuture Mar 28, 2014 7:50 PM Flag

    Claude Completes Private Placement Pursuant to Credit Agreement Waiver

    Claude Completes Private Placement Pursuant to Credit Agreement Waiver

    March 28, 2014 - Saskatoon, Saskatchewan, Canada: Claude Resources Inc. ("Claude" and or the "Company") has announced that it has completed a private placement (the "Private Placement") of common shares in the capital of Claude ("Common Shares").

    The Private Placement consisted of the issuance of 4,545,454 Common Shares at a price of CDN $0.22 per Common Share, being the market price of the Common Shares within the meaning of the Toronto Stock Exchange Company Manual, to Crown Capital Partners Inc. (“CCP”).

    The Common Shares have been issued to CCP as payment for a waiver being granted by CCP in connection with a Credit Agreement dated as of April 5, 2013 as a result of a covenant breach at December 31, 2013, as well as the modification of certain covenants. Concurrently with satisfaction of this one-time payment, the 5.75 million common share purchase warrants pursuant to the original agreement were cancelled in conjunction with the waiver.

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    • Looks like the Claude "good old boys" would rather shift the burden of making payment to its creditor onto its shareholders rather than spend any of its new found monies.
      Confucius say: BIG rat unwilling to depart with its cheese.

      • 1 Reply to lookin_2_score
      • Well, the good news is that 3/31/14 is the last day for Neil, or the BIG R as you call him.
        The latest PP seems totally par for the course for his 18-year reign,
        one last parting shot at the shareholders, just to let us know where we stand.
        It's going to take a while for the company to recover from the BIG R.
        Going to take me a while to recover from the BIG R, from Claude.
        who knows, the stock may pop Monday anyway to mark the long-awaited departure.

        His leadership or lack thereof has taken an enormous toll,
        a financial toll, a human resources toll, a big big toll,
        Management is critical in every sector, but especially in this one.
        If you are loaded up on CLGRF here, you might think of rebalancing a portion into:
        STADF, CRCUF or MEAOF, all 3 are dirt cheap, all 3 have good management, all 3 have a lot more gold.
        I rebalanced mostly out of EXK & CGR and into BRD last year, and that worked out great,
        it got acquired by Primero, now PPP is my largest holding.
        I still own EXK and Claude shares too, but not like before.
        This should do OK, but the three I mentioned above seem better to me.

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