HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Has Noront received the proceeds from this Loan ordeal yet ?????
If they have, then why the heck are we issuing more shares to pay off our accounts payables.
It's time this company starts to do something right ......
NFL
From : Stockwatch
Noront Resources 474,941 shares for debt
2013-04-09 19:16 ET - Shares for Debt
The TSX Venture Exchange has accepted for filing the company's proposal to issue 474,941 shares to settle outstanding debt for $139,727.50.
Number of creditors: One creditor
The company shall issue a news release when the shares are issued and the debt extinguished.
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