Re: Resverlogix Closes Extension of Maturity Date of Loan and Announces Private Placement
posted on
Sep 05, 2017 10:44AM
NBB wrote: "its seems plausible that they expect that is all the financing they need at this point for some particular reason, unless that is all they could get but I don't think that is possible, I wonder if the FA is positive that t managment expects a deal soon after to move forward"
I think you nailed it NBB. Recall from the August 28th, 2017 news release:
"Mr. Donald McCaffrey, President and CEO stated, "We are pleased that the loan has been extended for four months as we expect, within that period of time, to close the contemplated transaction we also announced today and close or significantly advance other similar initiatives that we have been diligently pursuing. Closing of any of these transactions would be anticipated to provide funding more than sufficient to retire the loan in full. Our goal remains to create long-term value for our shareholders.""