originally, in one last newsletter, he suggest financing announcement would be at the end of September and first money distribution would be in October
MMEX Resources Corporation Shareholder Update
August 10, 2018
Dear Shareholders,
This is to update you since our last Shareholder Letter on July 9th, 2018by answering the following shareholder questions
.
Please keep in mind that the answers represent
management’s current opinion and estimates, as to which there can be no assurance.
1.
On a scale of 1 to 10, with 10 being extremely confident, how confident are you that we will obtain financing?
We give it a 9.
2.
Are you confident that financing for (phase 1b) will happen by September 15th?
Our term sheet with the lender has been extended to September 15th.
Absent unforeseen circumstances, we believe that we will start the final documentation process during September and anticipate the financial closing, i.e.,disbursement of funds,in October 2018.
3.
Do you have a set date for finance closing (Phase 1b) and if so, are you able to share the date?
You may mean Phase 1(a),the Receipt Storage Dispatch Phase. We anticipate that we can close that financing part by the end of September