Replies to post #85090 on North Bay Resources Inc (NBRI)

[JB3136]

Yes I know what that likely means

[Cee-It]

!!! restructuring !!!

This would be one form of restructuring don't you agree?

SAY an ENTITY immediately pays $300,000 up front to NBRI in exchange for an OPTION that must subsequently be fully executed by the ENTITY before it otherwise expires on say June 30, 2015...

SAY the SCOPE OF OPTION AGREEMENT is 3 main points (lots of details, but establishing these provisions):

1.. OPTION provides ENTITY with 10% of NBRI total authorized shares for 0.01 cents per share .. that's a purchase option of 150 million shares for $1.5 million (minus advanced $300,000) = $1.2 million NEW MONEY

2.. OPTION requires that the NBRI partial spin-off plans for RGI proceed with slight modifications and will provide ENTITY with 25% of RGI total authorized shares, which will be set at 500,000,000 total authorized (and establish that 200,000,000 shares will be held in treasury by RGI and then the remainder issued to NBRI plus the percentage issued to existing shareholders of NBRI as per the ongoing plan of NBRI BOD); and sets that the RGI shares sold to ENTITY will be for 0.01 cents per share for the total proceeds of $500,000; and additionally, RGI will then issue a warrant to the ENTITY that authorizes the purchase of an additional 25,000,000 shares for 0.02 cents per share for purchase anytime prior to June 30, 2016

3.. OPTION provides that ENTITY will receive guaranteed control over a seat on BOD of NBRI and the same control over a seat on BOD of RGI until June 2017 and then control may be subsequently by shareholder voting and agreed BOD modifications for future operations

That's restructuring right? This OPTION is also an immediate $2 million to $2.5 million of cash relief to the operations of NBRI.

So, "restructuring" can take many forms and it can even be good for current and future shareholders.

[conix]

1 for 10,000 Reverse Split coming.

Ahhh.....it was so predictable with the toxic financings.