Welcome To The Golden Band Resources HUB On AGORACOM
Saskatchewan's SECRET Gold Mining Development.
Amalgamation And Minority Sharholder Rights
Golden Band may be ready for an amalgamation with a Special Purpose Amalgamating Corporation, as part of its emergence from the pro-forma insolvency.
Sprott Junior Gold Miners ETF
If any place that GBN would be offered in a private placement is SGDJ, where filings would have the offering info. SGDJ trades ONLY on U.S. exchanges, Sprott does not offer the same on cross listed in the TSX.
Offering Memorandum
The company may be privately issuing an Offering Memorandum, as part of their emergence from bankruptcy.
Post-Insolvency IPOs
"Since there is less hype and underpricing associated with these offerings, there is less potential for an aftermarket correction. We also find that the aftermarket risk of public offerings by firms emerging from bankruptcy is lower than that of traditional IPOs."
BCSC - Revocation Order
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.
Change-In-Control Put
What might be going on is a change in control nonsubstantive put option embedded within an in-substantive defeasance. Golden Band may have issued a change-in-control put option to PROCON instead of a single share, worth approx. 500,000 shares plus a premium.
In-Substance Debt Defeasance
A loan provision that removes it from the balance sheet of cash is set to the side for debt service. Defeasance typically happens when a borrower owns a portfolio of Treasury securities where coupons are used to service a debt. If the borrower set aside enough assets to cover the debt obligation, the debt will not need to be listed on a balance sheet.
Extinguishment Or Conversion Of Shares
Pg. 9-50 9.2.2 "Conversion accounting–convertible equity instruments In a conversion of convertible preferred stock pursuant to original conversion terms, the preferred stock is exchanged for common shares with no effect on retained earnings. However, the exchange of common shares for preferred stock that does not contain a conversion right in its original terms is considered an extinguishment"
Deemed End Of Fiscal Year
Marginal note:Deemed year end where fiscal period exceeds 365 days (3) Notwithstanding subsection 249(1), where the fiscal period of a corporation exceeds 365 days and by reason thereof the corporation does not have a taxation year that ends in a particular calendar year, for the purposes of this Act, the corporation’s first taxation year ending in the immediately following calendar year shall be deemed to end on the last day of the particular calendar year.
FRAS Canada - Extinguishing Of Shares
The extiguishing of shares under the IFRS accounting rules in order to write down liabilities may not occur at GBN.H, from the simple fact that creditors were paid in full under the restructuring proposal accordingly with the BIA attested to by the trustee Bowra Group.