Sunday, June 25, 2017 10:54:38 AM
Below is a filing from OCLG about DIMEVC
https://ih.advfn.com/p.php?pid=nmona&article=73518083
Here is the story of DIMEVC offering money to Rockex Mining
http://www.canadianminingjournal.com/news/iron-ore-rockex-signs-loi-for-lake-st-joseph-project/
Here is the story below of the termination of the LOI:
July 11, 2016
Rockex Mining Definitive Agreement With Diversified Innovative Marketing Enterprises Ltd. Terminates
July 11, 2016 -- Thunder Bay, Ontario - Rockex Mining Corporation ("Rockex" or the "Corporation") (CSE: RXM) announced today that the option and joint venture agreement (the "Definitive Agreement") between Rockex and Diversified Innovative Marketing Enterprises Ltd. ("DIME"), previously announced on May 2, 2016, has terminated without completion of the proposed phase one financing.
The Definitive Agreement provided for an initial cash contribution of CND$30,000,000 for funding the completion of a feasibility study and environmental assessment, and an option for subsequent development and production at Rockex's Lake St. Joseph Project, located 100 kilometres northeast of Sioux Lookout, Ontario. Following the execution and delivery of an escrow agreement dated May 5, 2016, Rockex made arrangements to deposit $3,000,000 into escrow in accordance with the terms of the Definitive Agreement and at all times was ready, willing and able to complete its deposit into escrow; however, DIME did not provide a satisfactory letter of credit for deposit into escrow. Following several extensions to the expiry date of the escrow agreement to allow time for DIME to provide a satisfactory letter of credit, the escrow agreement expired on July 8. 2016 without a satisfactory letter of credit being produced, resulting in the Definitive Agreement terminating, Rockex is proceeding to consider alternative financing options.
Armando Plastino, President and Chief Executive Officer of Rockex, commented: "It is disappointing that the Corporation has expended so much time and resources on the DIME transaction, without achieving a successful phase one financing; however, our management team continues to advance a number of strategic initiatives designed to add value for our shareholders."
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