Hunt Gold Corporation (HGLC)

[soupoftheday]

Filing that 8-K for the $50M was STRONG!!!

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6070189

On July 29, 2008 the Company entered into a Short Term Loan Agreement with St James Capital Holdings, Inc. The terms of this loan agreement are as follows :-


1. St James Capital Holdings, Inc. ("St James") has agreed to advance an amount of up to US$50,000,000 (fifty million dollars) to Fortress Financial Group, Inc. ("Fortress") with immediate effect.

2. This Loan may be drawn down by Fortress from St James; upon demand.



3. This Loan is expressly for the purchase of "free trading" and unrestricted shares in Hunt Gold Corporation (HGLC.PK) by Fortress. Fortress is prohibited from purchasing shares in Hunt Gold Corporation at a price greater than US$0.015 per share of Hunt Gold Corporation Common Stock.



4. This Loan and the accrued interest is repayable in full by Fortress to St James on or before December 31, 2008.



5. This Loan carries interest at a rate of 12% per annum, calculated on the outstanding balance from day to day. This interest will be payable by Fortress to St James at the termination of this Loan.



6. This Loan is secured by all of the shares of Hunt Gold Corporation Common Stock (HGLC.PK) currently held by both Fortress and by Western Diversified Mining Resources, Inc.; as well by each and every share of Hunt Gold Corporation Common Stock purchased by Fortress as from July 31, 2008.



7. Should Fortress fail or be unable to repay this Loan to St James on or before December 31, 2008; St James has the irrevocable right to immediately take possession of all of the stock in Hunt Gold Corporation held by both Fortress and by Western Diversified Mining Resources, Inc. In that event, Fortress and Western Diversified Mining Resources, Inc. will lose all of its rights, title, claims and ownership to those shares of Hunt Gold Corporation; to St James without any recourse whatsoever.



An amount of 483,750,099 shares of Hunt Gold Corporation (HGLC.PK) Common Stock is held by Western Diversified Mining Resources, Inc.; a wholly owned subsidiary of the Company as at July 31, 2008. These shares are now eligible to have their restrictive legend removed and will be "free trading" within seven days from today.


An amount of 1,363,588,873 restricted shares of Hunt Gold Corporation (HGLC.PK) Common Stock are held directly by the Company as at July 31, 2008.


An amount of 42,569,020 "free trading" shares of Hunt Gold Corporation (HGLC.PK) Common Stock are held directly by the Company as at July 30, 2008.