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WeConnect Tech. International Inc. (WECT)

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Last Post: 11/20/2017 11:14:39 AM - Followers: 9 - Board type: Free - Posts Today: 0

Contact Minerals Corporation

We currently have no business operations or significant assets. We plan to identify and acquire an interest in a mineral property. The acquisition of a mineral property will be dependent upon our possessing sufficient capital resources at the time to purchase such mineral property. We have not entered into any discussions, understandings, arrangements or other agreements, preliminary or otherwise, for acquiring any mineral property and/or funding arrangements for the purpose of acquiring a mineral property.  Our plan of operation for the next twelve months is to identify and acquire an interest in a mineral property on which we will carry out exploration activities. We are unable to provide an estimate of our exact financial needs for the next twelve months. However, as at April 30, 2011, we had cash on hand of $71,134 and a working capital deficit of $78,293. As such, we will require additional financing in the near future in order to meet our current obligations and to continue our operations. In addition, in the event that we are successful in identifying a mineral property, of which there is no assurance, we anticipate that we will need to obtain financing in order to pursue an exploration program.

Our ability to identify and acquire a mineral property is dependent upon our ability to obtain additional financing in the near term. We anticipate that such funding will be in the form of equity financing from sales of our common stock. However, there is no assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our business plan should we decide to proceed. We believe that debt financing will not be an alternative for funding the acquisition of a mineral property or the exploration of such mineral property. The risky nature of this enterprise and lack of tangible assets places debt financing beyond the credit-worthiness required by most banks or typical investors of corporate debt until such time as an economically viable mine can be demonstrated.

On January 8, 2009, our Board of Directors approved a private placement offering of up to $150,000 of 10% convertible notes (the "Convertible Notes Offering") to persons who are not "U.S. Persons" as contemplated under Regulation S. Under the terms of the Convertible Note Offering, the convertible notes bear interest at 10% per annum and are convertible at the option of the holder into our common stock at the lesser of $0.05 per share or 75% of the average trading price for the 10 trading days immediately preceding the date of the conversion. To date we have completed $112,500 of the Convertible Notes Offering. There is no assurance that we will be able to complete the sale of any additional securities under the Convertible Note Offering.

We anticipate continuing to rely on equity sales of our common shares and advances from our sole executive officer and director in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing shareholders. There is no assurance that we will achieve any additional sales of our equity securities or arrange for debt or other financing to fund our business operations.

ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES.

On April 7, 2010, Contact Minerals Corp. (the "Company") issued an aggregate of $37,500 of 10% convertible notes (the "Issued Notes") under a private placement offering approved by the Company's Board of Directors on January 8, 2009. The Notes are due on January 31, 2011, bear interest at 10% per annum payable annually and may be converted into such number of shares of the Company's common stock as shall be equal to the principal amount of the Note to be converted divided by the lesser of $0.05 or 75% of the average trading price of the Company's common stock for the 10 trading days immediately preceding the date of conversion.

This private placement was completed pursuant to the provisions of Regulation S promulgated under the Securities Act of 1933, as amended (the "Securities Act"). The Company did not engage in a distribution of this offering in the United States. The investor represented that he was not a US person as defined in Regulation S, and has provided representations indicating that he was acquiring the Company's securities for investment purposes only and not with a view towards distribution.

Vancouver, British Columbia - (OTCBB: CNTM) On April 7, 2010, Contact Minerals Corp. (the "Company") issued $37,500 of 10% convertible notes (the "Issued Notes") under a private placement offering approved by the Company's Board of Directors on January 8, 2009. The Notes are due on January 31, 2011, bear interest at 10% per annum payable annually and may be converted into such number of shares of the Company's common stock as shall be equal to the principal amount of the Note to be converted divided by $0.05 ($0.10 pre-2-for-1 forward split).

This private placement was completed pursuant to the provisions of Regulation S promulgated under the United States Securities Act of 1933, as amended (the "Securities Act") and under National Instrument 45-106 adopted by Canadian securities regulators. The Company did not engage in a distribution of this offering in the United States. The investor represented that he was not a US person as defined in Regulation S, and has provided representations indicating that he was acquiring the Company's securities for investment purposes only and not with a view towards distribution.

The proceeds of the Offering are being used for working capital purposes.

The above does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States. The securities have not been registered under the United States Securities Act of 1933, as amended and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.


As of June 3, 2011, the Registrant had 16,530,000 shares of common stock outstanding.



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CNTM News: Information Statement - All Other (definitive) (def 14c) 10/18/2017 03:05:47 PM
CNTM News: Proxy Statement - Other Information (preliminary) (pre 14c) 10/05/2017 02:17:40 PM
CNTM News: Initial Statement of Beneficial Ownership (3) 09/22/2017 05:30:24 PM
CNTM News: Initial Statement of Beneficial Ownership (3) 09/22/2017 05:07:30 PM
CNTM News: Current Report Filing (8-k) 09/22/2017 08:08:33 AM
PostSubject
#20   Seeing some volume today. Maybe we will Quintessence 11/20/17 11:14:39 AM
#19   9.5 M float mostly birdcage Watcher31 11/09/17 11:23:28 AM
#18   Progress. Name and symbol change completed. Quintessence 11/07/17 10:22:46 PM
#17   CNTM: effective Nov. 7,2017 Contact Minerals Corp., CNTM, Renee 11/06/17 09:24:02 AM
#16   Months up and the stock isn't. maddog 20/20 10/28/17 10:59:55 PM
#15   10k out https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12343394 adijas 10/27/17 12:32:46 PM
#14   Yeah, saw that yesterday. Company looks good. I adijas 10/19/17 08:30:04 AM
#13   DEF 14C out also. Quintessence 10/19/17 08:06:29 AM
#12   That's great news. It's official now that We adijas 10/17/17 05:55:12 AM
#11   Name change and A/S increase has been filed DaReal 10/17/17 02:18:16 AM
#10   8k out. 2 new board members. Things are adijas 09/22/17 08:39:46 AM
#9   Looks like CNTM has potential. Not much Quintessence 09/21/17 11:05:32 AM
#8   I'm looking for a triple from here in maddog 20/20 09/21/17 08:17:38 AM
#7   Thinking about taking a position. Seems so strange mcjodie 09/20/17 12:23:20 AM
#6   Got my eye on this one. Hate the THE GOLD STANDARD 09/14/17 08:35:39 PM
#5   Thanks for sharing and for link. shanak10 09/14/17 03:17:17 PM
#4   Think this company will merge in http://www.weconnect.tech/connectingeveryoneat8 adijas 09/14/17 03:14:23 PM
#3   I picked up some yesterday. shanak10 09/14/17 03:10:15 PM
#2   Wee Shiong Han has filed a new activist wiltonio 09/13/17 11:01:36 AM
#1   http://www.profitspi.com/stock-chart-str.aspx?id=CNTM&ca=1683770040 Soapy Bubbles 06/18/11 05:04:18 PM
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