MAOMF

Maudore Minerals Ltd.

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Maudore Minerals Ltd.

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Renee

12/17/18 9:51 AM

Post #11

MAOMF SEC Suspension "because of questions regarding the adequacy and accuracy of information about the company".

https://www.sec.gov/litigation/suspensions/2018/34-84824.pdf

Order:

https://www.sec.gov/litigation/suspensions/2018/34-84824-o.pdf

OTCRIDER

03/07/15 10:52 PM

Post #10

TORONTO, (March 2, 2015) /CNW Telbec/ - Maudore Minerals Ltd. (“Maudore” or the “Corporation”) - MAO: TSX Venture; M6L: Frankfurt Exchange - announces that the Superior Court of the Province of Quebec has granted an order whereby its proposal to creditors initially filed under the Bankruptcy and Insolvency Act (the “BIA”) has been continued under the Companies’ Creditors Arrangement Act (the “CCAA”), with Samson Belair/Deloitte & Touche Inc. transitioning from its role as trustee under the BIA to the role of monitor under the CCAA. Maudore will continue in its efforts to restructure its debt within the framework of the CCAA. The initial 30-day stay period under the CCAA will expire on March 29, 2015 and may be renewed thereafter.
Maudore is a Quebec-based junior gold company with more than 13 exploration projects. One of these projects is at an advanced stage of development with reported current and historical resources and mining.
http://www.maudore.com/MediaHandler.ashx?MediaId=a3f4bdaf-5304-4501-b48b-a0672704392f

Maudore Announces Bankruptcy of its Subsidiary Aurbec Mines Inc
.
TORONTO, (January 7, 2015) /CNW Telbec/ - Maudore Minerals Ltd. (“Maudore” or the “Corporation”) - MAO: TSX Venture; M6L: Frankfurt Exchange - announces that as a result of the decision taken not to seek any further extension of its deadline to make a proposal to its creditors pursuant to the Bankruptcy and Insolvency Act (Canada) (the “BIA”), its subsidiary Aurbec Mines Inc. now has the status of a bankrupt entity under the BIA.
http://www.maudore.com/MediaHandler.ashx?MediaId=7725d440-3183-4597-b3f8-d85d534e5776

Maudore is a Quebec junior gold company with more than 22 exploration projects, located near the towns of Amos, Lebel-sur-Quévillon and Matagami, QC. The Company’s projects span some 120 kilometers, east-west of the under-explored Northern Volcanic Zone of the Abitibi Greenstone Belt and cover a total area of 1,285 km2.
http://www.maudore.com/en/CustomPage.aspx?ResourceId=059faab5-849a-47f6-bf47-cb387c611589

Financial Statements
http://www.maudore.com/en/sites/maudore/documents.aspx?CategoryId=857cbd91-a12f-451d-ac1a-c2fd21530b08

brawnycha

03/14/14 9:04 AM

Post #9

Funding http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=66414506&topic=MAOMF&symbology=null&cp=off&webmasterId=89753

March 14, 2014 - 8:41 AM EDT

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Maudore Reaches Agreement for Additional Funding
MONTREAL, March 14, 2014 /CNW Telbec/ - Maudore Minerals Ltd. ("Maudore" or the "Company") - (TSXV: MAO) (OTCBB: MAOMF) (FWB: M6L) - announces that it has reached an agreement with Cyrus Capital Partners, in its capacity as a manager to FBC Holdings S.à.r.l ("FBC"), for additional funding to be made available by FBC to Maudore and to its wholly-owned subsidiary Aurbec Mines Inc. ("Aurbec").

Maudore and Aurbec had earlier reached agreements with FBC and with their other major creditors (the "Other Creditors") regarding the consensual restructuring of their debts. However, it became necessary to revise the terms of this consensual restructuring and to discontinue Maudore's associated rights offering mainly as a consequence of the Company having projected an increase in the time and development costs required for new stoping at the Sleeping Giant mine, elements that were not reflected in its initial payment schedules. The primary driver for this change was the positive drill results obtained from ongoing underground diamond drilling being conducted. The Company has successfully achieved its initial drilling plan goals and exceeded new ounce growth targets. However, the majority of these new ounces were revealed to be proportionally in the deeper levels of the mine. As a consequence, additional mine development and extended ramp up time is needed for these new stoping areas to reach positive cash flows, resulting in a significant change to the overall financing needs of the Company in order to bridge its operations to that point.

The Company continues to work towards a revised consensual restructuring of its debts (the "Consensual Restructuring") in order to arrive at a sustainable financing plan for developing the full potential of the Sleeping Giant mine. As an important first step in this regard, the Company has reached an agreement with FBC (the "FBC Agreement") which provides it with access to additional funding to be applied towards this goal.

The specific terms of the FBC Agreement are as follows:

Immediate Funding

Upon the execution of definitive documentation by the parties, FBC will immediately advance to Aurbec the sum of $4 million in the form of a senior secured loan (the "Senior Secured Loan"), with the funds to be used by Aurbec for general corporate purposes until such time that a meeting of the shareholders of Maudore can be convened in order to obtain the approval of the shareholders other than FBC (the "Minority Shareholders") to the overall terms of the FBC Agreement as discussed below. The Senior Secured Loan will bear interest at the rate of 15% per annum and will be secured by a first charge on all assets of Aurbec (subject to the prior charge on the Vezza property in favour of Entrepreneur Minier Promec Inc. and Gestion Abitibi Inc.) as well as a secured guarantee provided by Maudore (the "Senior Security"). Aurbec will pay a fee of 5% on any undrawn amounts.

FBC will also continue to allow Maudore to draw on the balance remaining of the original amount of approximately $3.3 million held in the interest escrow account established pursuant to the existing $22 million secured credit facility granted to Maudore by FBC (the "Credit Facility"). These funds will be used for general corporate purposes, subject to the prior approval of FBC. FBC has been allowing Maudore to access these funds for working capital purposes since the time that the Company discontinued its rights offering.

Should the Minority Shareholders not approve the terms of the FBC Agreement, this would constitute a default under the Senior Secured Loan, rendering it immediately repayable to FBC, and would similarly create a default under the Credit Facility.

Other Features Subject to Shareholder Approval

Upon the approval of the Minority Shareholders of the terms of the FBC Agreement as discussed below, the following additional elements of the FBC Agreement will be implemented:

FBC will pay to Aurbec the sum of $4 million, which sum will be applied by Aurbec to the repayment of the then outstanding balance of the Senior Secured Loan described above, with the remaining balance available to be used for general corporate purposes. In exchange for this $4 million payment, (i) Aurbec will issue to FBC such number of common shares in its share capital as will result in FBC holding a 49.9% equity interest in Aurbec (with Maudore retaining a 50.1% equity interest) and (ii) Aurbec will grant to FBC a royalty claim (the "Royalty Claim"). Under the terms of the Royalty Claim, Aurbec will be required to pay to FBC, within one year, the sum of $4 million plus interest at the rate of 15% per annum. Repayment of the Royalty Claim will be made by Aurbec through a combination of the following sources of cash: (A) 1% of any gold sales generated by Aurbec and (B) any cash balances in excess of $1 million (which excesses will be deposited into a blocked account in favour of FBC and be balanced on a bi-weekly basis). Moreover, in the event of a change of control of Maudore or Aurbec (other than in favour of FBC), the Royalty Claim will become immediately repayable at the option of FBC for an amount equal to 101% of the amount otherwise payable thereunder at such time. The obligations of Aurbec under the Royalty Claim will be guaranteed by Maudore and secured against the assets of Maudore and Aurbec.

FBC will make available to Aurbec the sum of $2 million in the form of a senior secured loan, with the funds to be used by Aurbec for general corporate purposes, subject to the prior approval of FBC. This senior secured loan will bear interest at the rate of 15% per annum and will be secured by the Senior Security. Aurbec will pay a fee of 5% on any undrawn amounts.

FBC will provide funding sufficient to satisfy Aurbec's new environmental bonding requirements in 2014 of approximately $0.9 million.

The approximately $2.2 million in interest currently outstanding under the Credit Facility will be converted into principal under the Credit Facility.

Maudore will be permitted to satisfy the ongoing interest owing on the Credit Facility for 2014 either by making cash payments or by converting such interest into principal under the Credit Facility.

FBC will convert a minimum of $2 million and a maximum of $4 million (the exact amount to be determined by FBC at its option) of outstanding principal owing under the Credit Facility, or of other debt owing to it, into common shares of Maudore ("Common Shares") at a conversion price of $0.09 per Common Share, representing a minimum of 22,222,222 and a maximum of 44,444,444 Common Shares.

Maudore will undertake not to issue any additional Common Shares without the approval of FBC prior to the implementation of the Consensual Restructuring.

In consideration of this restructuring, Maudore will issue to FBC an aggregate of 15.35 million Common Shares.
The Boards of Directors of Maudore and of Aurbec have received an opinion from Clarus Securities Inc. regarding the terms and conditions of the FBC Agreement, stating that the FBC Agreement is fair to Maudore and to Aurbec from a financial point of view.

Discussions continue with the Other Creditors regarding the revisions to be made to the terms of the consensual restructuring initially entered into with them. Agreements have been reached with the Other Creditors of Aurbec which provide that an aggregate of approximately $3.3 million of debt will be repaid in monthly instalments of approximately $85,000, with a final balloon payment to be made in March 2015. Further announcements in this regard will be made as warranted.

The implementation of the FBC Agreement remains subject to the execution of formal documentation, the receipt of all requisite regulatory approvals, including the approval of the TSX Venture Exchange, and, except as stated above, the approval of the Minority Shareholders. Moreover, any further agreements that Maudore or Aurbec may enter into with the Other Creditors regarding the restructuring of their debt may be subject to similar conditions. Further information regarding these matters will be contained in a management proxy circular which will be mailed to shareholders in due course in connection with the meeting which will be called by the Company in order to seek their approval of the foregoing.

About Maudore

revlis1

04/07/13 12:47 AM

Post #8

Re: #7: @DDhawk - That would all make sense, but then, we're

thats why i plan to have alil in each... ;)

DDhawk

04/07/13 12:35 AM

Post #7

Re: #6: @revlis1 - interesting setup happening within the palladium market -

That would all make sense, but then, we're talking about the 'markets',
where common-sense is the rarest of all commodities...
who can say, not me ? GL2U ;)

revlis1

04/06/13 10:41 PM

Post #6

Re: #5: @DDhawk - Yes; TSX... http://www.stockhouse.com/companies/overview/v.mao

interesting setup happening within the palladium market -
why would PAL sell their gold unless to fund their palladium
mining?...i believe silver - palladium and nat. gas will explode
in the next year to support a move away from oil thru tech. imho.

DDhawk

04/06/13 10:11 PM

Post #5

Re: #4: @revlis1 - otc maybe - but they are tsx right?

Yes; TSX... http://www.stockhouse.com/companies/overview/v.mao

revlis1

04/06/13 9:54 PM

Post #4

Re: #3: @DDhawk - Hmmm...Au@19oz/t from 12/11 PR...if these guys aren't liars,

otc maybe - but they are tsx right?

DDhawk

01/11/12 2:24 PM

Post #3

Hmmm...Au@19oz/t from 12/11 PR...if these guys aren't liars, this might be a golden play...
+/- 30M O/S looks good but, OTC "Greymarket' listing looks kind of scary...
website; http://www.maudore.com/