G'day!

If I may I would like to add to your post. One of the syndicate members I have been working with in relation to my interest in the private placement had told me that I had till Tuesday of this week to make a firm commitment if i would participate because the full memorandum and term sheet would be available that day. I did not participate. By now, I'm assuming the syndicate members are working to complete agreements, escrow funds for closing of the book on Friday. The term sheet would specify when funds should be wired into our account. I'm not sure what the date would be but I would say the funds wouldn't be needed till the old notes come due Dec.23rd. No point in accruing interest earlier than needed. I'm also not sure if the press release will be when the syndicate book closes or when the funds are received. I'm hoping for the former. The last minute % increase in the CVR is unfortunate but still necessary given the demands of one of the largest investors so there should be no reason now for any delay. What I'm struggling with to understand is that the CVR appears only to be valid in the event of an award/cash settlement and not subject to a non-cash settlement offer, ie: a deal to participate in any JV with Vz/China at a later date in which case, we as shareholders would still own 100 % of our share of a possible JV. The Company is looking at other Canadian listing exchanges in the event the TSX listing requirements can not be fulfilled so that is good. All in all, we wait for news on the private placement, wait for news on the TSX listing and news early december on progress of the ICSID case. lots of waiting but still what can you do eh?

Happy Thanksgiving to our American friends.

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