Gryphon Gold Corp. (GYPHQ)

[81vette]

our goal is to unwind the unethical death spiral transaction and return the borealis mine to its rightful owners ,"THE SHAREHOLDERS"< I like this part of the news the best. GHPHQ has insane potential with its low float and no dilution ,it could be the Q play of the year

[makinezmoney]

$GYPHQ: Great thing about $GYPHQ is that

its not a dead stock.


I'm accumulating here.

There is still some optimism in it given this initative.

I think there is some serious value here.

Just like i saw it with $BIOAQ down at $0.0055 when they were beating it down.


GO $GYPHQ

[BCNstocks]

Nice update and clarification on GYPHQ. Thank you.

[Zardiw]

Why do this?

5) Gryphon will confer with the US Trustee, Christina Lovato, to address the merits of filing a Motion to Re-Open the Bankruptcy.

z

[makinezmoney]

$GYPHQ: Bockhold had a Successful Victory against Twin-Butte Energy

Murray Bockhold has done this kind of thing before and was very
successful. Hopes are that him and Dawson combined can bring
Waterton to the Table in a better attempt effort.
Dawson wasn't able to do it alone but Bockhold has better
experience and probably more knowledge of the situation.

Either way... this really stinks what Waterton did to bring
Gryhphon down. Time to bring Waterton DOWN !

https://business.financialpost.com/news/fp-street/from-14-to-80-per-cent-the-remarkable-recovery-by-twin-buttes-debenture-holders


**********************************************************


From 14 to 80 per cent: the remarkable recovery by Twin Butte's debenture holders
Of the $68.816 million received by the holders, the bulk ($67.805 million) was paid out before the final amount ($1.012 million) was approved for payment

The Twin Butte Energy site just south of the Bruder Ranch near Twin Butte, Alberta.David Rossiter
Barry Critchley
Barry Critchley
July 11, 2018
5:47 PM EDT



Almost two years after Calgary-based Twin Butte Energy Ltd. entered receivership — put there by the actions of the holders of $85 million of convertible debentures who objected to the terms of a takeover offer — the final payments to the creditors have been approved.

And for the debenture holders — who anted up $85 million in late 2013 to receive a 6.25-per-cent interest rate for five years and the right to convert into Twin Butte common shares at $3.05 a share — the receivership process, during which a new buyer emerged, has been very rewarding.

“Determination against all odds and perseverance over time pays off,” said Murray Bockhold, the former CIBC Wood Gundy investment adviser who, along with Sandy Edmonstone (an investment banker then with Macquarie Capital Markets) led the charge to ensure that debenture holders, most of whom were retail investors, got a fair shake.

Now, instead of receiving $140 per $1,000 of face value for each debenture they owned — the amount they were offered by the original purchaser, Singapore-based Reignwood Resources Holding Pte. Ltd. in August 2016 — they will receive 80.96 per cent of the face value of the subordinate debenture claim. (The face value is $85 million.)

When measured against another metric, the recovery — as a percentage of the subordinate debenture claim ($88.585 million) — for the debenture holders is a tad lower at 77.68 per cent.

Of the $68.816 million received by the holders, the bulk ($67.805 million) was paid out before the final amount ($1.012 million) was recently approved for payment.

Bockhold, who is in the process of setting up his own money management firm, said: “we opposed the (original) offer because it was fundamentally flawed from the get-go. It broke a fundamental principle of the capital markets.”

The flaw was that common equity holders were slated to get twice as much in Reignwood’s offer as the debenture holders. “There’s no way we would have given more to the common shareholders,” he said.

The latest filing by the receiver — the 14th — provides a glimpse into the myriad of decisions made by the receiver, which become official when approved by the court.

In the most recent filing, which came about four months after the 13th filing, interest focused on two matters: a claim from the Alberta Treasury Board; and claims filed by three former executives.

The first concerns the back and forth between the provincial government and the receiver over taxes owing, of how an original claim of $3.191 million ended up at $152,757. It was scaled back because Twin Butte, whose 2014 and 2015 taxes were unpaid and reassessed, was bailed out by the receiver, which filed its 2016 return “which carried back sufficient losses from 2016 to offset the 2014 and 2015 re-assessed taxes.” It was also scaled back because an amount demanded for interest and penalties was rejected.

The second matter focuses on a claim by three former executive officers for severance. The three were seeking $1,230,500. That demand was opposed by counsel (Bennett Jones) for the Ad Hoc group of debenture holders. At a subsequent hearing, Justice K.D. Yanauchi determined the claims be disallowed and the amount set aside be distributed to the debenture holders.

But the former executives were a determined bunch, so they filed an appeal, which would under normal circumstances take time to resolve. Instead the receiver donned a mediator’s hat to try to determine whether a settlement could be reached.

Ultimately all the parties — the former executives, the ad hoc group and the receiver (FTI Consulting Canada) — reached an agreement: the executives would have to content themselves with half their claim, less $30,000 in legal fees.

Financial Post

[e-mail]

[makinezmoney]

$GYPHQ: J.O'Neil was sued by previous Gryphon Shareholder as well

Case # G.R. Dawson Holdings Ltd. v. James O’Neil, CV17-00461

This looks to be a continuation of that but this time directed
towards Waterton which was implicitly linked with O'Neil.




https://www.watertonglobal.com/


Looks like this has a very High Probability of Succeeding in Court now
that Bokhold is working with Dawson on going after Waterton instead.

https://bockholdinvestment.com/gryphon-gold/

https://bockholdinvestment.com/gryphon-court-filings/






Even if they settle for Half of $300Million, this would be a Massive
Win for shareholders.


https://business.financialpost.com/news/fp-street/waterton-spurred-loan-linked-gryphon-bankruptcy-suit-claims


****************************************************************


Waterton spurred loan-linked Gryphon bankruptcy, suit claims
A Gryphon shareholder sued some of its former officers and directors alleging they drove the company into bankruptcy through a series of illegal high-interest loans from Waterton

Bloomberg News
March 10, 2017
4:02 PM EST


A shareholder of Gryphon Gold Corp. sued some of its former officers and directors alleging that they drove the company into bankruptcy through a series of illegal high-interest loans from Waterton Global Resource Management Inc.

The suit, filed by G.R. Dawson Holdings Ltd. on March 3 in a Nevada state court, claims the directors and officers allowed Waterton to take control of Gryphon’s primary asset, a gold mine in Hawthorne, Nevada. It alleges that the people agreed to loans at usurious rates of as much as 1,057 per cent, in breach of the Canadian criminal code, according to the filing.

The complaint alleges that Waterton, a Toronto-based private equity firm, while not named as a defendant in the suit, uses a business model that places “friendlies” on company boards and management that encourages using it as the only source of capital. It alleges that former Gryphon Chief Executive Officer James O’Neil came from a company that was heavily indebted to Waterton, Jipangu International Inc., and returned to that company after “the course of the debtor’s destruction was fully set in place.”

“There is no evidence that the Gryphon board did anything except intentionally allow Waterton to create agreements that Gryphon had no chance of performing and would inevitably lead to Gryphon’s loss of all value,” the complaint says. Gryphon Gold filed for Chapter 11 bankruptcy in July 2013 in Reno, Nevada.

Waterton officials, including Isser Elishis, managing partner and chief investment officer, couldn’t be reached for comment. A request for comment submitted to Jipangu Inc. for the company and O’Neil received a reply that Jipangu International was no longer its subsidiary and that the company has “no information or comments” on the suit.

Funding Trends

Prospecting and small-cap mining companies have turned to private equity and hedge funds in recent years for financing as their industry has faced headwinds from lower prices. Waterton, an active player in private equity and mining, has two funds that raised more than US$1.7 billion in 2014 and 2016 for investments, according to its website.

Private-equity firms often acts a “lender of last resort” in distressed financial situations by providing loans that banks would be unwilling or unable to make.

The suit alleges that during the bankruptcy proceeding, Waterton caused the mine to underperform in order to inhibit Gryphon from having a “successful reorganization.” Before resigning, the directors and officers failed to protect the interests of Gryphon shareholders, according to court filings.

Disputes about company valuations frequently arise in bankruptcy proceedings, Robin Schwill, a partner in Davies Ward Phillips & Vineberg LLP’s restructuring practice, who has worked on mining cases, but isn’t involved in the suit. Disagreements about whether a rate of interest is criminally high are common because there is no straightforward way of calculating it to include fees, timelines and other factors, he said.

“That will always give rise to potential arguments,” he said.

The suit alleges that as of October 2015 Waterton has caused US$450 million of losses to shareholders of mining companies since it began providing debt financing in Canada in 2009. Gryphon Gold has been damaged by the loss of its entire interest in the Nevada mine, damage worth at least US$50 million dollars and “perhaps hundreds of million of dollars,” according to court papers.

The plaintiff is seeking a judgement for breach of fiduciary duty with damages proven in excess of US$10,000, and for punitive damages, according to the filing.

The case is G.R. Dawson Holdings Ltd. v. James O’Neil, CV17-00461, Second Judicial District Court for the State of Nevada, Washoe County.

[BCNstocks]

A preliminary injunction is a court order directed to a party to cease a particular act (or take a particular act) before the litigation has proceeded to final judgment. In order to obtain a preliminary injunction, a party must show that he/she would be irreparably damaged if the injunction did not issue and that he/she has a high probability of succeeding on the merits.

[81vette]

There is a court hearing tomorrow at 3pm ,it’s for a preliminary injunction

[QUANTUM314]

So thin - .03 will be back this week

[QUANTUM314]

Added some should be an easy winner from sub penny. Surprised it’s not hitting harder. All the fake news has people scared

[BCNstocks]

Seriously. We were over .03 today. Jeez

[Femto99]

I probably should not post it here.







Gryphon expects to take the following next steps:

1) Bockhold will nominate a new slate of Directors and seek shareholder approval. Going forward Gryphon will continue to trade on the OTCBB under the symbol GYPHQ and will abide by normal public company disclosure requirements with the intent of re-listing on the TSX or such other appropriate exchange as and when the board of directors may determine.

2) Effective today the Custodian will approve a debt-for-equity swap and concurrent rights offering. To-date Dawson has provided $1,919,145 in funding for legal, consulting and DIP financing which will be converted at $.00174 which is above the share price of $0.0015 at the time of reinstatement. This will result in the issuance of 1,102,956,896 shares or 85% of the newly outstanding share count of 1,297,600,987 thereby diluting existing shareholders materially. BIM Group currently own approximately 45% of the outstanding shares. Since July 2013 Dawson has provided unwavering financial support and taken significant risk in an attempt to salvage Gryphon on behalf of shareholders. Had it not been for this conviction existing shareholders would have no hope of participating in any recovery.

3) Following the debt-for-equity swap the company will conduct a 1-for-8 reverse stock split leaving the remaining shares outstanding at 162,200,123. To provide for future litigation expenses and working capital Gryphon will then conduct a rights offering whereby for every 5 shares held shareholders can subscribe for one share at US$0.0123 cents per share. Gryphon will issue a further 32,440,025 shares for proceeds of US$399,012. This will enable existing shareholders to avoid further dilution should they so choose. Shares outstanding post the stock consolidation and rights issue will be 194,640,148 (currently 194,644,091) implying an Enterprise Value of $2,394,074. The shares will trade cum -rights for shareholders of record as of September 14, 2018 allowing 4 weeks for shareholders to conduct open market purchases. The reverse stock split will be effective at 12:01 a.m. EDT, on September 15, 2018. The Company’s common stock will begin trading on a split-adjusted basis on the OTCBB under the existing symbol “GYPHQ” on September 17, 2018.

4) Bockhold/Dawson will agree to a lock-up pending successful resolution of legal and/or regulatory proceedings.

5) Gryphon will confer with the US Trustee, Christina Lovato, to address the merits of filing a Motion to Re-Open the Bankruptcy.
3) Following the debt-for-equity swap the company will conduct a 1-for-8 reverse stock split leaving the remaining shares outstanding at 162,200,123. To provide for future litigation expenses and working capital Gryphon will then conduct a rights offering whereby for every 5 shares held shareholders can subscribe for one share at US$0.0123 cents per share. Gryphon will issue a further 32,440,025 shares for proceeds of US$399,012. This will enable existing shareholders to avoid further dilution should they so choose. Shares outstanding post the stock consolidation and rights issue will be 194,640,148 (currently 194,644,091) implying an Enterprise Value of $2,394,074. The shares will trade cum -rights for shareholders of record as of September 14, 2018 allowing 4 weeks for shareholders to conduct open market purchases. The reverse stock split will be effective at 12:01 a.m. EDT, on September 15, 2018. The Company’s common stock will begin trading on a split-adjusted basis on the OTCBB under the existing symbol “GYPHQ” on September 17, 2018.

[Viky]

https://www.washoecourts.com/Query/CaseInformation/CV18-01557

[yankees18]

so did i

[makinezmoney]

$GYPHQ: Took a bunch more $0.01s here


Nice Pullback


GO $GYPHQ

[BCNstocks]

Huge news hit on this today.

I was doing some research on this issuer and I see that they just filed an action against Waterton Global and Borealis Mining Company in Washoe County. Here is a link to the case:
Gryhon Gold v. Waterton Global

Unfortunately, they don't let you see the documents on the Washoe County website. This complaint was just filed on 7/27/18. This, along with the reinstatement with the SOS leads me to believe that GYPHQ is getting ready to make a move.

[RiskyRewards]

holy moly

[makinezmoney]

$GYPHQ: $300Million LAWSUIT... GO AND GET IT !!!!!!!!!!!!


Ya baby ya.......... this is gonna pop like $AVOI did 2weeks ago.


Sweet sweet news.


LOVE IT.

In big at $0.01 this afternoon.


GO $GYPHQ

[BCNstocks]

$GYPHQ hit .038! I added more small at .025! Wow, just wow :)

[makinezmoney]

$GYPHQ: GOING NUTS... WHERE IS EVERYONE ??????


No one is catching this POP ?


Toooo bad.

Missing out on a MASSIVE MASSIVE move higher here.


Squeeze in effect.


GO $GYPHQ

[BCNstocks]

Holy sh*t! .027!!! :)

GYPHQ

[makinezmoney]

$GYPHQ: Currently only $0.014.... Going to $0.25/sh


Watch this FLY like a MUDDA



GO $GYPHQ

[makinezmoney]

$GYPHQ: Massive News... REINSTATEMENT


Gryphon Gold Corporation files to reinstate itself for the purpose of launching US$300 million lawsuit against Waterton Global Resource Management Inc.Font size: A | A | A
12:19 PM ET 8/20/18 | GlobeNewswire
RELATED QUOTES


12:21 PM ET 8/20/18
Symbol Last % Chg
GYPHQ
0.01 160.00%
Real time quote.

Gryphon Gold Corporation files to reinstate itself for the purpose of launching US$300 million lawsuit against Waterton Global Resource Management Inc.

Surveillance indicates Waterton may be attempting to remove US$45 million in gold-laden carbon deposited during the pendency of bankruptcy and undisclosed to the court.

CARSON CITY, Nev., Aug. 20, 2018 (GLOBE NEWSWIRE) -- Gryphon Gold Corporation (OTCBB:GYPHQ) ("Gryphon") is pleased to announce that effective July 19, 2018, Murray Bockhold ("Bockhold") has been appointed as custodian for the company in an order issued by the Second Judicial District Court, State of Nevada, Washoe County in Case No. CV18-01442, which confers, amongst other things, the power to instigate legal process on behalf of Gryphon. In partnership with G.R. Dawson Holdings Ltd. ("Dawson"), and on behalf of BIM Group clients and the public shareholders of Gryphon, Bockhold filed suit against Waterton Global Resource Management Inc. Et al on July 27, 2018 in Case No. CV18-01557.

The suit claims relief for:

1) Fraud/Intentional Misrepresentation

2) Breach of the Implied Covenant of Good Faith & Fair Dealing - Tortious Breach

3) Injunctive Relief: Temporary Restraining Order & Preliminary Injunction.

These new filings follow the submission of a Verified Complaint against the former officers and directors of Gryphon for Breach of Fiduciary Duty, Case No. CV17-00461 filed March 3, 2017.

Bockhold states, "This has been a long and arduous journey and we look to the new evidence as verification of our long held allegation that Waterton conspired with the former officers & directors of Gryphon to commit fraud. Our goal is to unwind the unethical death spiral transaction and return the Borealis mine to its rightful owners - the shareholders."

Gryphon expects to take the following next steps:

1) Bockhold will nominate a new slate of Directors and seek shareholder approval. Going forward Gryphon will continue to trade on the OTCBB under the symbol GYPHQ and will abide by normal public company disclosure requirements with the intent of re-listing on the TSX or such other appropriate exchange as and when the board of directors may determine.

2) Effective today the Custodian will approve a debt-for-equity swap and concurrent rights offering. To-date Dawson has provided $1,919,145 in funding for legal, consulting and DIP financing which will be converted at $.00174 which is above the share price of $0.0015 at the time of reinstatement. This will result in the issuance of 1,102,956,896 shares or 85% of the newly outstanding share count of 1,297,600,987 thereby diluting existing shareholders materially. BIM Group currently own approximately 45% of the outstanding shares. Since July 2013 Dawson has provided unwavering financial support and taken significant risk in an attempt to salvage Gryphon on behalf of shareholders. Had it not been for this conviction existing shareholders would have no hope of participating in any recovery.

3) Following the debt-for-equity swap the company will conduct a 1-for-8 reverse stock split leaving the remaining shares outstanding at 162,200,123. To provide for future litigation expenses and working capital Gryphon will then conduct a rights offering whereby for every 5 shares held shareholders can subscribe for one share at US$0.0123 cents per share. Gryphon will issue a further 32,440,025 shares for proceeds of US$399,012. This will enable existing shareholders to avoid further dilution should they so choose. Shares outstanding post the stock consolidation and rights issue will be 194,640,148 (currently 194,644,091) implying an Enterprise Value of $2,394,074. The shares will trade cum -rights for shareholders of record as of September 14, 2018 allowing 4 weeks for shareholders to conduct open market purchases. The reverse stock split will be effective at 12:01 a.m. EDT, on September 15, 2018. The Company's common stock will begin trading on a split-adjusted basis on the OTCBB under the existing symbol "GYPHQ" on September 17, 2018.

4) Bockhold/Dawson will agree to a lock-up pending successful resolution of legal and/or regulatory proceedings.

5) Gryphon will confer with the US Trustee, Christina Lovato, to address the merits of filing a Motion to Re-Open the Bankruptcy.

Surveillance of the mine indicates Waterton may be attempting to remove gold-laden carbon from a pond where it was deposited and stored during the pendency of the bankruptcy. In an Order dated August 2, 2018 a Temporary Restraining Order ("TRO") was issued preventing Waterton from removing the contents of the pond. Affidavit evidence indicates there could be in excess of US$45 million in unaccounted for gold.

Gryphon will post court filings at www.bockholdinvestment.com and under its issuer profile on EDGAR and SEDAR.

ON BEHALF OF GRYPHON GOLD CORPORATION,

Murray Bockhold,

Custodian

[e-mail]

Legal Counsel: Woodburn & Wedge - Chris Wicker and Seth Adams

> Dow Jones Newswires

August 20, 2018 12:19 ET (16:19 GMT)

[saturn_five]

Just to clarify: Nevada's Gryphon Gold Corp. (GYPHQ) is not related to Australia's Gryphon Minerals.
Gryphon Gold Corp. (GYPHQ) is currently listed as OTC Pink, with Stop Sign .... on otcmarkets.com
Back in 2016, Teranga Gold (Toronto)
acquired Gryphon Minerals (Australia).
I've been holding some GYPHQ for years, so it's good to see some recent volume + gains !
$$$ glta

[81vette]

yes and reinstated 6 days ago nvsos

[mgazel]

Was this acquired two yrs back?

http://www.northernminer.com/news/teranga-unveils-friendly-us63m-deal-gryphon-minerals/1003774381/

[Zalmy]

Nice to see thave u here!

[Zalmy]

Yup! And adding!

[Zalmy]

Will break it tomorrow

[Zalmy]

Wow! Nice find!

[81vette]

Restence is .01 ,above that will be breakout .with vol increase today ,even a close of .01 would make the macd chart look good ,ppl will and should be afraid of missing out on the .01 ,it’s only a matter of time until the ppl at court or checking public records find out and spread the word .we have seen it with many Qs in the past ,and this one is starting like some of the others with filings ,tapping my foot but waiting patiently

[81vette]

Awesome resurch find ,proof big things are coming ,only a matter of time until the word gets out to traders ,,I will stickey it when the time required expires

[jvgcredit]

I was doing some research on this issuer and I see that they just filed an action against Waterton Global and Borealis Mining Company in Washoe County. Here is a link to the case:
Gryhon Gold v. Waterton Global

Unfortunately, they don't let you see the documents on the Washoe County website. This complaint was just filed on 7/27/18. This, along with the reinstatement with the SOS leads me to believe that GYPHQ is getting ready to make a move.

[81vette]

5.5 Xs ave. vol. ,liking the vol is more than fri.

[81vette]

with this crazy low float ,Q ,and reinstate , GYPHQ has the potential to go up to 1.00 could be the mentality ,GYPHQ has the makings of a 1,2,3000% winner ,tapping my foot waiting patiently ,they didn't reinstate for no reason

[81vette]

could be development news soon

[81vette]

getting vol ,mostly buys (only one small sell )

[X-ray07]

Worth holding

[jvgcredit]

It's already up to a penny if you want to buy in now. Wish I had bought more yesterday or this morning.

[81vette]

low float fast up 64% with only a few buys, when and if GYPON gets attn. it could fly to dollar real fast at this rate

[81vette]

some loading is a good sign

[jvgcredit]

Looks like its starting to move up. Hopefully some more eyes start looking at this one. I think it's still early though.

[Zalmy]

Interesting

[81vette]

the new owner (teranga) @3.10 share ,could be using GYPHQ to become American ticker ,that could sky rocket GYPHQ like most other F stocks that have done it . the last one I remember went from .001 to .37 in about 14 days.

[81vette]

wasn't reinstated for no reason ,it will be 1 week tomorrow so we could see something happening soon

[81vette]

better in early than late, early bird gets the worm , I saw it on my scanner last fri I should have bought it then

[X-ray07]

We are early

[81vette]

and l2 changes as ppl buy they set sell orders , Qs and reinstates have been running like crazy lately ,GRYPQ could get some attn. as it is showing up on scanners more will find it and word could spread also

[X-ray07]

L2 never always accurate


But I do agree Gryphon Gold Corp can run

[81vette]

only 250k shares on ask until .26 ,no dilution ,GRYPHQ could run huge