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Denke am Freitag sehen wir die 0,20 € und nehmen dann einen fairen Kurs auf die 0,40 €
Zeitpunkt: 20.03.12 14:33
Aktion: Forumswechsel
Kommentar: Falsches Forum
Advanced Explorations Inc. Announces Amendment to Convertible Debenture Agreement
TORONTO, ONTARIO--(Marketwired - Mar 3, 2014) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI) (FRANKFURT:AE6) announced today that it has entered into an memorandum of understanding with XinXing Pipes (Hong Kong) Co. Limited, a subsidiary of XinXing Ductile Iron Pipes Group Co. Ltd. (collectively, "XDIP") pursuant to which the Parties have agreed to amend the terms of the Convertible Debenture Agreement (the "Debenture") dated March 2, 2012.
The Company and XDIP have agreed in principle to defer the maturity date of the Debenture until March 2, 2015 in order to allow the Company flexibility in its operations for the next 12 months. In consideration of this deferral, the Debenture shall accrue interest at a rate of 4% per annum commencing from the original March 2, 2014 maturity date.
In line with the terms of the original Debenture, the definitive amendment agreement shall restrict XDIP's conversion rights at the maturity date to 19.84% of the total outstanding common shares of the Company. The conversion price with be based on the previous 5 day closing average on the day of conversion subject to TSX minimum price conversion requirements of $0.10 per share. The terms of the memorandum of understanding are subject to the execution of a definitive agreement and requisite approvals from the TSX Venture Exchange.
ON BEHALF OF THE BOARD
John Gingerich, President & CEO
http://www.minenportal.de/artikel.php?sid=103332&lang=en#Advanced-Explorations-Inc.-Announces-Amendment-to-Convertible-Debenture-Agreement target=
http://www.finanznachrichten.de/...-announces-eric-guo-as-ceo-256.htm
§ As of 11:59pm ET May 24th, 2014
Filing
Date§ Transaction
Date§ Insider Name Ownership
Type§ Securities Nature of transaction # or value acquired or disposed of Price
May 22/14 May 21/14 Guo, Lei Direct Ownership Common Shares 10 - Acquisition in the public market 10,000 $0.070
Advanced Explorations Inc. Announces Results of Annual and Special Meeting of Shareholders
TORONTO, ONTARIO--(Marketwired - July 11, 2014) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI) (FRANKFURT:AE6) is pleased to announce the voting results from the Company's Annual General and Special meeting of shareholders held on July 10, 2014 (the "Meeting").
The six nominees as proposed by the Company were elected to the board. The directors are Mr. John Gingerich, Mr. James Excell, Mr. Lei (Eric) Guo, Mr. Robert Collette, Mr. Raziel Zisman, Mr. Zeng Yaogan, and Mr. Robert Telewiak.
The shareholders approved a resolution appointing Ernst & Young LLP as auditors for the Company for the ensuing year, and re-approved the 10% rolling stock option plan of the Company in accordance with the policies of the TSX Venture Exchange.
Additionally, the shareholders approved, with approximately a 99.97% majority of votes cast at the meeting, a resolution approving the proposed joint venture transaction (the "Proposed Transaction") as more particularly described in the management information circular dated May 15, 2014.
Mr. Guo, Chief Executive Officer stated;
"The Company is very pleased to have received such a strong endorsement of our proposed Joint Venture with Parkson Star Ltd (HK). The proposed transaction not only provides a path for the development of the Roche Bay iron ore project, but includes a process by which AEI can retire its debts as part of the Parkson obligations to earn its interest. The Company can now focus on working with Parkson to implement a formal agreement and resolving any outstanding issues in a timely manner."
The Company also confirms that its major debt holder is also in support of the transaction. Xin-Xing Ductile Pipes Limited ("XDIP") holds two convertible debentures totaling $10,000,000 representing over 70% of the Company's debt. XDIP has extended the first debenture until March of 2015 and is expected to do the same for the $5,000,000 debenture due November of this year.
In connection with the aforementioned judgment creditors, the Company wishes to provide a clarification in respect of certain disclosures set out in its Financial Statements and its Management Disclosure and Analysis. As previously reported - see press release dated November 2, 2012 - the Company was subject to a Statement of Claim filed in the Ontario Court of Justice arising out of a finder's fee agreement dated July 4, 2008. On December 30, 2013, an Arbitrator awarded Storm Capital Corporation $1,793,686 in connection with the finder's fee agreement as stated in the Company's Consolidated Financial Statements for the year ended December 31, 2013 ("Audited Financials"). Included in accounts payable and accrued liabilities for the year ended December 31, 2013 is a provision of $2,200,000 related to this claim, encompassing fees, disbursements and interest in connection with the award. On June 26, 2014, the Superior Court of Justice (Ontario) dismissed the Company's Application to set aside the judgment and granted Storm's cross-application to enforce the award.
Furthermore, as clarification to the notes of the Audited Financials, on January 15, 2013, a sole arbitrator in an international proceeding brought against the Company by a former vendor, Siemens AG, issued a final award to Siemens AG totaling approximately $1,079,616. The amount has been accrued in full by the Company and is included in the accounts payable and accrued liabilities in the Audited Financials. On July 7, 2014, the Superior Court of Justice (Ontario) made an order to recognize and enforce the arbitral award.
Eric Guo, CEO, commented:
"AEI is very pleased with the progress being made regarding the Parkson Star joint venture transaction, an essential component of which is the provision to fully cover the Company's liabilities to its judgment debtors by having Savik assume and settle the obligations in full. Discussions with the judgment debtors are progressing well and we believe that we can come to a standstill or forbearance agreement with them in order to facilitate the close of the transaction. All parties understand that the reality of the situation is that it is in everyone's best interest to facilitate the close of the Parkson Star transaction and the successful advancement of the Roche Bay Project."
Read more at http://www.stockhouse.com/news/press-releases/...#uWjP6tpXVGBCoizr.99
Der Parkson Deal, welcher im Mai verkündet wurde...wieder nur mehr Schein als Sein, ohne echten Mehrwert für den Anleger. Hier wurde im großen Stil den Hang hinunter gerutscht, der Chef hat bereits den Wagen verlassen und die letzten verbliebenen haben noch nicht kapiert, dass der Wagen gleich am Berg zerschellt...
AXI habe ich schon lange abgeschrieben, die verbliebenen Stücke dümpeln irgendwo noch im Depot. Der Aktie schenke ich keine Aufmerksamkeit mehr. Ich gehe davon aus, dass sie entweder bald vom Kurszettel verschwindet oder ein Re-split gemacht wird. in beiden fällen verliert der Anleger. Hat er/sie in diesem Fall aber ohnehin schon.
Dir alles gute.