RRS 19/2/15
Further to the Company announcement on 14 January 2015, regarding the
US$15 million loan facility provided by Lind Asset Management, LLC
(“Lind”), Range has received a statutory demand from Lind demanding
repayment of approximately US$7.2 million that Lind alleges is due and
payable.
The Company is seeking legal advice as to the validity of the statutory
demand. Range offered to buy-back the convertible security issued to Lind
from the proposed US$60 million funding package with Core Capital
Management Co., Ltd but Range and Lind were unable to agree on the
settlement proposal.
So there has been no deal with LIND in regards to the outstanding amount, and that I can not see LIND giving up holding security over Texas.
How has 200,000,000 been released to Range and a company with 5 people in the office have this security for a bridging loan?
Not withstanding the voluntary deregistering of both Donnybrook Gold Pty Ltd.,
Westblade Pty Ltd in Aug and Oct 2014. Falls well with in the 6 months of the deal to off load the Texas (23 Dec 2014) junk. In which the ARK ann puts the cap'en still as a director of both sub's. Giving him a direct interest.
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