a thought... KWG would not have made the purchase below ( ~ $1.44 million in total )unless it was confident that it had the funds (either in cash or receivables) necessary to pay the $700,000 option payment to FNC . KWG did use monies due from Debut Diamonds to partly (?wholly) fund the transaction below.
TORONTO, January 27, 2015 – KWG Resources Inc. (“KWG”) announces that it has acquired today an additional 144,464,000 common shares in the capital of Debut Diamonds Inc. (“Debut”) at a price of $0.01 per share through a private placement from treasury in settlement of all of the debt owed by Debut to KWG.
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RECEIVABLES
As at September
30, 2014
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|
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Sales taxes receivable
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1,171,466
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Due from Debut Diamonds Inc. (Note 16)
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650,643
|
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Other receivables
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231,237
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|
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Receivables
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2,053,346
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KWG had $1.18 million of cash or cash equivalents as of 9/31/2014. ...
Cheers,
Luker
