Argentum 47 Inc (ARGQ)

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Majestic Wealth: Our client received a term sheet for US$301,500,000 approximately a month ago from our JV partner CPM SARL and recently received another term sheet for 339,000,000 Euros from an institutional investment group to enable the Company to carry out the construction of its Paphos (Crypus) Hotel and Villa project. The later term sheet has been negotiated and accepted by our client and we expect due diligence to be carried out in the next 4 to 6 weeks. On the basis that our client passed due diligence carried out by one of the big four (KPMG, PWC, E&Y or Delloites), which we believe will be the case, we have been informed that the funding will effectively occur shortly after.

We have a cash success commission agreed with Majestic that would equate to over US$11,000,000 to be shared with the Billbarter Group; we also have a contractually agreed equity success fee.

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