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The Rainmaker

06/04/16 12:17 PM

#15187 RE: Zorro #15186

More confirmation the deal with the Chinese is real as well...CDNL: As previously reported, Cardinal Resources, Inc. (the "Company") has outstanding various convertible promissory notes. Two of these notes have matured, with outstanding principal, accrued interest and penalties in the amounts of $35,995.26 ("Note 1") and $202,598.75 ("Note 2"), respectively. Effective May 17, 2016, the Company agreed with the holder of Note 1 to pay off the outstanding amounts owed thereunder in two equal installments, the first of which was made on May 17 and the second of which will be made on June 10, 2016. Effective May 19, 2016, the Company agreed with the holder of Note 2 to pay off the outstanding amounts owed thereunder in four equal installments to be made on June 3, June 17, July 1 and July 15, 2016.