Replies to post #5826 on True North Energy Corp. (TNEN)

[kazzz3]

he said it was for this .......

repayment of short term advances and working capital requirements.


then in the same month he does this........

SPRING, TX / ACCESSWIRE / December 7, 2015 / True North Energy Corp. (TNEN) ("True North"), announces that it has accepted a subscription ("Subscription Agreement") from an investor ("Investor") to acquire new shares of the Company equal 19.98% at February 29 2016 under Regulation S. The investor subscribed for these shares for a total cash price of USD $200,000 in periodic payments until the final payment on February 29, 2016. The Company has received $50,000 of the $200,000 to date.

President of True North, Gilbert Steedley, said, "True North is pleased about this subscription and plans to use the funds for working capital and to reduce outstanding obligations. These funds, and diversification into the Italian fashion arena, are both positive steps to increasing shareholder value."



so what debt was pay down ? was it the toxic lenders? i am betting not so don;t worry that 1.5 million share trade the other day whats you think that was? you bet dilution and plenty more to come ....kazzz

[kittie88]

now today April 22. Ameritrade says there are 72.4 million shares OS
I did not see a 24:1 forward split so it must be dilution huh?