People keep referring to the RESTRICTED A & B shares. They simply do not exist and here is why
The conditions were NEVER satisfied. The mining leases were NEVER sold.
The agreement went into default .. and the shares are worthless
OR
The sale was completed and the insiders ran off with the money
5 years ago. NMGL did not have 362 million in cash sitting in the shell just waiting for hand
Take your pick ..
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The Agreement is subject to several conditions of closing. The Company anticipates that Closing will occur no later than August 17, 2010.
The Agreement contemplates that the Company will distribute to the Company’s shareholders the shares received as the purchase price, and North American Gold & Minerals Fund is required to use its best efforts to cooperate in carrying out the contemplated distribution. The distribution is expected to be 0.00016168455 (rounded up) per 1 (one) share of Series A Preferred Stock for each 1 (one) share of Fortress Financial Group, Inc. common stock and 0.0003921002 (rounded up) share of Series B Preferred Stock for each 1 (one) share of Fortress Financial Group, Inc. common stock.
ITEM 9.01 EXHIBITS
10.01
Stock Purchase Agreement dated August 12, 2010 by and between North American Gold & Minerals Fund and Western Diversified Mining Resources, Inc.
