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Gambit Energy, Inc. (GMEI)

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Last Post: 4/10/2017 9:46:27 AM - Followers: 2 - Board type: Free - Posts Today: 0

Silver Butte Mining Co.
520 Cedar Street
Sandpoint, ID 83864
Phone: (208) 263-5154

 

July 15  10-Q  http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6044739

 

Silver Butte to Enter Coal Industry

SANDPOINT, Idaho, June 24, 2008 /PRNewswire-FirstCall via COMTEX/ -- On June 23, 2008 Silver Butte entered into a Letter of Intent for a share exchange with Blue Arch Coal Company, a Wyoming corporation ("Blue Arch"). Blue Arch Coal Company is a privately held corporation that currently owns options to acquire four state coal leases in the Powder River Basin of Wyoming. The leases are estimated to contain 148.3 million tons of proven sub-bituminous coal reserves.

Under the terms of the proposed share exchange, at closing, each of the approximately 220,500,000 then outstanding shares of Blue Ach will be exchanged for shares of Silver Butte on a one for one basis (i.e. one share of Silver Butte will be issued in exchange for one share of Blue Arch). Closing of the transaction is contingent upon completion of Due Diligence by each corporation and negotiation of a definitive Share Exchange Agreement which must be approved by the Board of Directors of Silver Butte and Blue Arch and by the shareholders of Blue Arch holding majority of the outstanding shares of Blue Arch Common Stock. The Share Exchange Agreement will contain, among other conditions, a requirement that prior to closing Blue Arch shall have obtained equity financing in the minimum amount of $3million. After closing of the transaction it is anticipated that there will be a 1:5 reverse split of the Silver Butte Common stock and that Silver Butte shall amend its Articles of Incorporation changing the name of the Corporation to Blue Arch Energy, Inc.

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not even be anticipated. This news release is neither a prospectus nor an offer to sell securities or stocks in the company. It is intended for informational purposes only.

220m shs/5 = 44m shs
current ask .37/sh x 5 = 1.85 x 44m = mkt cap $81,400,000
148.3m tons of proven sub-bituminous coal reserves = Mine Price $90/ton x 148.3m = $13,320,000,000 proven reserves as Blue Arch.

 

 

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PostSubject
#21   GMEI SEC Suspension: Renee 04/10/17 09:46:27 AM
#20   A boatload of reportable activity (new lease, financing, marktwain 06/14/13 05:16:49 PM
#19   Oil is flowing heavy from two massive wells marktwain 06/03/13 02:25:17 PM
#18   Things are heating up real fast for Gambit marktwain 03/25/13 01:03:52 PM
#17   so this one is greysheeter now? mick 03/19/12 11:03:11 PM
#16   Mick... charts do not work... the company is DELISTED. Pro-Life 03/19/12 10:14:28 PM
#15   stockcharts.com/c-sc/sc?s=gmeie&p=d&b=5&g=0&id=p98462586950 mick 03/19/12 07:40:21 PM
#14   Security Deletions: 13:16 GMEIE Gambit Energy, Pro-Life 03/19/12 06:36:42 PM
#13   this is a good stock, just needs some mick 10/13/11 11:50:00 PM
#12   NEWS... mrbizzard 10/13/11 11:07:02 AM
#11   wards? ceo? yes on those cheating ceo's; mick 08/19/11 12:57:05 PM
#10   GMEI.OB...GMEI.OBs not a shell or mining company anymore micsz28 08/19/11 12:49:03 PM
#9   i went to their website...it shows the symbol gmeid mick 08/16/11 11:27:41 AM
#8   is this still a shell? i use to mick 08/16/11 10:56:20 AM
#7   SIBM.OB...ECCI.PK...SIBM.OB...ECCI.PK......... micsz28 04/19/11 12:03:47 PM
#6   ITEM 5.02 Departure of Directors or Certain RonnieD 08/04/09 09:14:53 AM
#5   10-Q out.. nice shell.. RonnieD 07/01/09 08:45:12 AM
#4   arnold 01/11/09 09:04:55 PM
#3   13 billion huh? nice round figure. 4keywest 08/03/08 07:34:10 PM
#2   220m shs/5 = 44m shs RonnieD 08/03/08 01:08:11 AM
#1   Silver Butte Mining Co. RonnieD 08/03/08 12:37:53 AM
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