Copper King Mining Corporation fka CPRKQ

[XBladeRob]

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"Without the loan from Altus, the company says a reclamation bond will expire, making it likely that its mining permits will be pulled. And Copper King will face the possibility of having its utilities
shut off and its leases rejected. It will also be unable to complete the drilling and inspections necessary to prove its reserves.

"Unless the foregoing issues are immediately addressed, the estates and all creditors will be irreparably harmed," Copper Mining said in documents filed Wednesday with the U.S. Bankruptcy Court in Reno, Nev. "The financing will stabilize and preserve operations
, and substantially increase the value" of the company's assets.