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Re: phil85 post# 7631

Thursday, 02/20/2014 11:58:30 AM

Thursday, February 20, 2014 11:58:30 AM

Post# of 7693
This should thrill NORX investors

From the Super Nova site, which my Firefox browser is warning may have been hacked, is the following in their news section:

In exchange for the 100% working interest and 80% net revenue interest in the Property, the Company will issue 1,500,000 common shares and 1,500,000 warrants to Glen Landry. The warrants will be exercisable at a price of $0.075 per share until the first anniversary of the agreement, $0.10 until the second anniversary of the agreement, and $0.125 until the expiration of the warrants on the third anniversary of the agreement. If commercially viable resources are discovered on the property, the Company must issue an additional 3,500,000 common shares to Glen Landry. There are no work commitment requirements on the Property.



Note they recently announced the Share options

Translation: Landry now has some SNOVF shares to sell, with more in a year. In return SNOVF is required to do nothing more, unless it chooses to do so. Note the shares are not owned by NORX with potential benefit to NORX shareholders, but are owned by Landry.

From the SNOVF side of the story: NORX gives away 80% of its interest, and Landry the individual benefits with SNOVF stock. Yes it differs from the NORX side of the story.

What might clarify things? This should classify as a material event to NORX stockholders. So where is the 8K at?





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