via BCSC.bc.ca - Revocation Order

The company may engage in a partial revocation order. That means all of the effort to delist and suspend reporting status is reversed.

"We will consider granting partial revocation orders to permit certain transactions involving trades in securities of the issuer, such as private placements or share-for-debt transactions, to allow the issuer to recapitalize or to raise sufficient funds to prepare and file outstanding continuous disclosure documents. We will generally not exercise our discretion to grant a partial revocation order unless the issuer intends to subsequently apply for a full revocation order and reasonably anticipates having sufficient resources after the proposed transaction to bring its continuous disclosure and fees up to date."

A share-for-debt transaction may be the awarding of shares to PROCON in lieu of the change-in-control put(500k shares + premium) and allow the company to recapitalize finally at the close of the in-substance debt defeasance. Note that the continuous disclosure requirements must be met, meaning they provide up to date information on the work in the La Ronge Gold Belt, something that has been sorely lacking.

https://www.bcsc.bc.ca/Securities_Law/Policies/Policy1/12-202_Revocation_of_a_Compliance-related_Cease_Trade_Order__NP_/

-F6