Wednesday, October 16, 2013

FAU goes no bid - "market conditions"

"Fire River Gold Corp. has been unsuccessful in renegotiating the terms of its senior secured gold stream credit agreement with Waterton Global Value LP and has received demand for payment from the lender.

The lender has also notified the company of its intention to enforce the security granted to the lender pursuant to the credit facility and of its intention to take the company's shares in its wholly owned subsidiary, Mystery Creek Resources Inc., in satisfaction of the company's indebtedness to the lender in accordance with its rights under the B.C. Personal Property Security Act. The result of such realization process by the lender would be the loss of substantially all of the company's assets. The company knows of no reason that the lender's realization process will not complete as proposed.

Prior to the demand for payment, the board of directors of the company engaged in significant efforts to find additional sources of financing for the company. Ultimately, however, the company was unable to find additional financing, primarily due to the current difficult market conditions."

A sickening securities scam from a sickening career venture promoter since day 1, reported several times to the useless as fukkin hell BCSC, and destined to successfully screw the public over without censure of any kind, AGAIN.

For 3 years we have said this ain't fukkin rocket science and it absolutely AIN'T. This disgrace is the perfect example why the venture "enjoys" the reputation it has earned over sooooooo many years. Catering to proven scumbags while the public continually gets scammed.