Getitgogone Sunday, 02/24/19 01:06:56 AM Re: Getitgogone post# 892 Post # of 903 Nautilus Minerals : files for relief under the Companies Creditors Arrangement Act and receives additional loan under secured loan facility Personally I continue not holding a position,but could change ,right now I see this as an absolute gamble to enter into a position;If I had some gambling money I would take a position just to see how it turns out,but I don't so I won't Unfortunately if there is clarification and the game for mining the seabed is turned back on here at Nautilus it will probably be too late to get a substantial position at current price before a big move up;I just see everything as a mess right now and IF it is resolved to the benefit of common shareholders I would be surprised. I think many battles lie ahead and maybe just maybe those that have spent so much time and money over the years will score and in that regard I have followed this for many years and been in and out but to those suffering losses or are about to in the future I feel for you and wish you all well and good fortune;It's unfortunate as well there is not more discussion here vs. the "other" website where most/all shareholders unite;I like Ihub at times for many reasons but times I don't so I get it;A combination of the two would be much better in my opinion. GLTA Press release from Nautilus >>> 02/23/2019 | 05:31am EST (GlobeNewswire) - Nautilus Minerals Inc. (TSX:NUS, OTC:NUSMF Nasdaq Intl Designation) (the "Company" or "Nautilus") announces that it has obtained an order (the Initial Order) of the Supreme Court of British Columbia providing the Company protection from its creditors pursuant to the Companies Creditors Arrangement Act (Canada) (the CCAA) so as to enable Nautilus to restructure its business and financial affairs. Shortly prior to the Companys application for protection under the CCAA, the Company received a loan from Deep Sea Mining Finance Ltd. (the "Lender") in the principal amount of US$750,000 (the "Loan") under the previously announced loan agreement, as amended (the "Existing Loan Agreement"), between the Company, two of its subsidiaries and the Lender which provides for a secured structured credit facility of up to US$34 million. The Initial Order also authorized the Company and two of its subsidiaries to enter into a new Interim Loan Agreement with the Lender, pursuant to which the Lender has agreed to advance to the Company up to $4 million to fund the Companys ongoing operations and restructuring. CCAA The Company is evaluating a range of alternatives to recapitalize Nautilus so that the reality of its seafloor mining projects can be achieved. The options could include the sale of Nautilus polymetallic nodule business unit and its seafloor massive sulfide business unit. Nautilus is not bankrupt and remains in possession and control of its business, while continuing to receive support in the form of loans from the Lender. For any updates on the CCAA proceedings, please refer to the website of the Companys monitor appointed under the Initial Order, PricewaterhouseCoopers Inc.: www.pwc.com/ca/nautilus-minerals Secured loan facility In connection with the most recent US$750,000 portion of the Existing Loan Agreement, the Lender waived the requirement for the Company to issue share purchase warrants to the Lender as contemplated by the Existing Loan Agreement. To date, the Company has received loans from the Lender totaling US$18,250,000. The loans bear interest at 8% per annum, payable bi-annually in arrears. All loans have a maturity date of March 8, 2019. As previously disclosed, the Lender is a private company owned 50% by each of: (i) USM Finance Ltd., a wholly owned subsidiary of USM Holdings Ltd, an affiliate of Metalloinvest Holding (Cyprus) Limited; and (ii) Mawarid Offshore Mining Ltd., a wholly-owned subsidiary of MB Holding Company LLC. As the Lender is indirectly controlled by affiliates of the Company`s two largest shareholders, the Lender is a "related party" of the Company and the Loan transaction constitutes a "related party transaction" of the Company under MI 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The Company did not file a material change report more than 21 days before the expected closing of this transaction, as the details of the transaction were not finalized until immediately prior to the closing and the Company wished to close the transaction as soon as practicable for sound business reasons. The Company continues to seek short and long term funding solutions while assessing its options, including various restructuring options. Negotiations with various third parties continue. There can be no assurances that the Company will be able to successfully negotiate and complete any funding or other transactions. Any transactions will be subject to all necessary stock exchange, third party and government approvals, as well as compliance with all other regulatory requirements. The Company will provide further updates as circumstances warrant. https://www.marketscreener.com/NAUTILUS-MINERALS-INC-1411070/news/Nautilus-Minerals-files-for-relief-under-the-Companies-Creditors-Arrangement-Act-and-receives-addi-28058228/ ............. If you want to know more about the canadian "ACT" that is allowing them to make this move >>>> Companies’ Creditors Arrangement Act (R.S.C., 1985, c. C-36) https://laws-lois.justice.gc.ca/eng/acts/C-36/ "Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing."