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Re: pitts77h post# 28058

Wednesday, 09/12/2012 11:15:17 PM

Wednesday, September 12, 2012 11:15:17 PM

Post# of 42999
Completely false, eh?

Well, GULP. You may have to swallow this one.
Like I said:

SmartWin told their shareholders they would pay the full 5 million
upon the execution of the documents.

That execution happened in July, 2008.




Geez, Page 6 of SmartWins PR dated 22 July, 2008 to their shareholders says this:

Pursuant to the terms and conditions of the Note, no funds will be drawn down until the Trustee has been appointed
and the Pledge and Security Agreement has been executed by all parties (the “Conditions”). Although
the parties have not yet appointed a Trustee as at the date of this announcement, Smart Win has
advanced approximately AUD2,600,000 (equivalent to approximately HKD19,760,000) under the
Note in order to facilitate exploration work of the Project. It has been agreed by the parties that
Smart Win’s advancement of the funds will not constitute a waiver of the Conditions and that the
remaining approximately AUD2,400,000 (equivalent to approximately HKD18,240,000) of the
committed funding under the Note will only be advanced when the Conditions are satisfied in full.



And you can find the above here:
http://www.166hk.com/attachment/2009110912212217_en.pdf

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