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  4. Southridge Enterprises Inc. (SRGE) Message Board

So, what are these special 5 concessions mentioned

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Post# of 9903
(Total Views: 231)
Posted On: 09/07/2019 5:36:36 PM
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Posted By: energy_wave
Re: nightfly #9066
So, what are these special 5 concessions mentioned in the press release? Cinco Minas = five mines. Could this be SRGE?

Quote:
Also, pursuant to the terminated option agreement, the private Mexican owners would retain a 2% net smelter return royalty (“NSR”) on 5 of the 29 concessions at Los Ricos. Pursuant to the Concession Agreements, the 29 concessions at Los Ricos can now be purchased by GoGold for $7.1 million dollars in cash and share consideration divided over the next 24 months, which represents a $5.4 million discount.



Royalty Purchase

In addition to the Concession Agreements, the Company has entered into an agreement to acquire the existing 2% NSR for the Los Ricos property for payments as follows:

$1 million in cash; paid in equal installments over 36 months; and
4,875,012 GoGold common shares to be delivered in equal numbers over an 18 month period.



https://gogoldresources.com/investors/press-r...s-property

How many shares were out when SRGE was shut down?

Look how many shares of GoGold the 5 concessions will receive.

Can we figure out based on the GoGold share price what that comes to in SRGE PPS?

GoGold is trading at .54 per share which is $2,632,506.48

Divide that into SRGE shares and we may see some money because it's a buy out.


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