IKN

a plague o both your houses

Dynasty (DMM.to): The process begins

Feel free to compare DMM’s NR this morning, with the key point in bold-type…

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jul 28, 2016) – Dynasty Metals & Mining Inc. (“Dynasty” or the “Company”) (DMM.TO)(DMMIF) received the following letter from Vertex One, the organization which provided Dynasty US$4 million in Notes in April 2015:
“We are the manager for each of Vertex Managed Value Portfolio and Vertex Enhanced Income Fund (together “the Purchasers”) with respect to certain notes (the “Notes”) purchased by the Purchasers from Dynasty Metals & Mining Inc. (“Dynasty”) under which Dynasty is currently in default (the “Default”) and pursuant to which the Purchasers issued demand for payment on April 11, 2016.
Notwithstanding
the default, Dynasty has requested that the Purchasers forbear from
enforcing the Notes and allow the Notes to remain outstanding.
Upon
acceptance of this letter by Dynasty, we agree the Purchasers have
agreed to forbear from enforcement of the Notes for a period of 30 days
from the date of this letter (the “Forbearance Period”),
to allow Dynasty’s board of directors and its special committee more
time to assess the various liquidity offers that have been presented to
them.
In
accepting this letter, Dynasty confirms the Default and confirms that
the Note and the Note agreement remain valid and enforceable in
accordance with their terms and are not released, amended or merged in
any manner as a result of this letter and shall remain in full force and
effect following the execution of this letter, save and except during
the Forbearance Period.”

…to the short IKN post on Tuesday:

“Will Ian Telfer buy Jerusalem from DMM, or will he buy it from Vertex?
Because if he gets it from DMM he’s going to want a rock bottom bargain
price. Either way, think it through long enough and you’ll see that the
only remaining issue is when, and not if, shareholders get sexually
intercoursed.”

The IKN kung fu is strong.

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