Supatcha Resources Inc. (SAEI)

[petermic]

I cannot find a filing which lays out the terms of this Melco financing or an 8k with the original financing agreement. Nowhere is it stated what the conversion terms are. That is some critical information.

And who the heck is this Melco Investments, Ltd?

On April 7, 2010, the Company announced the execution of an agreement with Melco Investments, Ltd. (“MIL”), providing for a $10,000,000 financing. This financing is in the form of a convertible debenture with terms stipulating an interest rate of 8% and a loan repayment term of 24 months from the date of execution of the agreement, by way of cash or through the conversion of shares of the Company’s stock. The repayment terms of the financing are amenable to the Company’s property development schedule and to future financings plans to retire the debt.


The securities potentially offered to the investor, under the terms of the financing, will not be registered under the Securities Act of 1933 as amended (the "Act"), and may not be offered or sold in the United States absent of registration, or an applicable exemption from registration, under the Act


As of August 31, 2010, $5,000,000 of the proceeds have been received the Company.