Key Developments: Anthem Resources Inc (AYN.V)
21 Nov 2014
Latest Key Developments (Source: Significant Developments)
Anthem Resources Inc:Boss Power Corp closes settlement agreement with province of British Columbia dated Oct. 19, 2011.As result, province paid $30,356,422.67 in full and final settlement of Boss Power's lawsuit against province for deemed expropriation of Blizzard uranium deposit and related claims.Settlement proceeds were paid out pursuant to binding letter agreement announced April 1 between Boss Power and Morning Star Resources Ltd., Magic Dragon Ventures Ltd and Anthony Beruschi, which required settlement proceeds be disbursed. Full Article
Anthem Resources Inc:For setting out terms and conditions upon which parties will settle all of legal disputes between them.Complete divisive reorganization of Boss Power pursuant to plan of arrangement. Full Article
Canada Stockwatch News reported that Anthem Resources Inc. has closed the non-brokered private placement financing to raise up to $600,000, subject to regulatory acceptance, and has issued 2,915,000 flow-through units for gross proceeds of $408,100. Each flow-through unit will comprise one common share at a price of 14 cents per share and one-half of a non-flow-through share purchase warrant exercisable for two years at 20 cents per common share. Shares issued under this financing will be subject to a hold period of four months and one day from the closing date of the offering. In accordance with exchange regulations, finders' fees will be payable to accredited agents on that portion of the funds raised by third parties. The gross proceeds from the flow-through common shares must be used to incur Canadian exploration expenses as defined by the Income Tax Act (Canada) by December 31, 2013, to be renounced effective December 31, 2012. Funds from this financing will be used to advance the Athabasca basin uranium exploration projects. Anthem will also be receiving the second payment from Nickel North Exploration Corp. of $500,000 in cash and $250,000 of NNX common shares by December 31, 2012, as part of the option agreement on the Hawk Ridge project (see news release dated April 10, 2012). Full Article
Canada Stockwatch News reported that Anthem Resources Inc. (formerly Virginia Energy Resources Inc.) has repriced the private placement terms of the previously announced non-brokered private placement financing (see news release of November 14, 2012). The Company has decided to reduce the amount of the private placement to now raise up to $600,000 of flow-through (FT) units, subject to regulatory approval. Each FT unit will comprise one common share at a price of 14 cents per share and one-half of one full non-flow-through (NFT) warrant exercisable for two years. Each whole warrant will entitle the holder to purchase one common share of the Company at 20 cents per share for a period of 24 months. Shares issued under this financing will be subject to a hold period of four months and one day from the closing date of the offering. In accordance with exchange regulations, finder's fees may be payable to accredited agents on that portion of the funds raised by third parties. Funds from this financing will be used to advance the Athabasca basin uranium exploration projects. Full Article
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