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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Kinbauri Gold Corp Com Npv | TSXV:KNB | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
The investment by Glen Eagle in Espana is structured in part as share capital and in part as loan. Similar to Glen Eagle, Kinbauri has also advanced development funds to Espana in the form of share capital and loans. With this structure, both Glen Eagle and Kinbauri can repatriate positive cash flow to Canada from Kinbauri Espana with a minimum of withholding tax, maximizing monetary benefits to Kinbauri, Glen Eagle and their shareholders.
All loans are non-recourse, meaning that neither Kinbauri nor Glen Eagle can make a call on their loans or demand loan payments. The agreements restrict loan repayments to positive cash flow generated from Espana's operations; further to be authorized by the Board of Espana. Funds applied by Kinbauri and Glen Eagle toward loan repayments should not be taxed in Canada. Cash or kind will only be distributed to Glen Eagle and Kinbauri in the ratio of their participating interest, whether it be by dividend or loan repayment; i.e. 55% Kinbauri: 45% Glen Eagle or 50% Kinbauri: 50% Glen Eagle, or as the case may be.
About Kinbauri:
Kinbauri is a TSXV - Tier 1 Mineral Exploration Company focused on the development of precious metal prospects in Spain, Nevada and Canada. Its immediate focus is to begin operations at its El Valle/Carles property in Asturias, northwestern Spain by 2010. It has 53,243,051 common shares issued and outstanding.
This press release contains certain forward-looking statements, which are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected. Kinbauri undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
VISIT:
Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where investors can post questions and receive answers or review questions and answers already posted by other investors. Kinbauri Web-Site: www.kinbauri-gold.com
THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: North America Darrell Munro, BB.A, LL.B Manager, Corporate Communications 613-836-0198 dmunro@kinbauri-gold.com Dr. Vern Rampton, P. Eng. President 613-836 2594 613-831 2730 (FAX) vrampton@kinbauri-gold.com / kinbauri@kinbauri-gold.com Chris Irwin Secretary 416-361-2515 cirwin@irwinlaw.ca Europe INVESTEL Investor Relations & Telecommunications Ruediger (Rudy) Hnyk CEO ceo@investel.de
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