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TSX Venture Exchange Stock Maintenance Bulletins

·21 min read

VANCOUVER, BC, April 22, 2021 /CNW/ -

TSX VENTURE COMPANIES

NUMINUS WELLNESS INC. ("NUMI.WT.B")
[formerly Numinus Wellness Inc. ("NUMI.WS")]
BULLETIN TYPE: Symbol Change
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Further to the TSX Venture Bulletin dated January 21, 2021, effective at the opening, Monday, April 26, 2021 the symbol for common share purchase warrants of Numinus Wellness Inc. will change from ('NUMI.WS') to ('NUMI.WT.B').

All other terms remain unchanged.

For further details, please refer to company's news release dated April 26, 2021.

________________________________________

NEX COMPANIES:

AUTOMOTIVE FINCO CORP. ("AFCC.H")
BULLETIN TYPE: Declaration of Dividend
BULLETIN DATE: April 22, 2021
NEX Company

The Issuer has declared the following dividend:

Dividend per common share: $0.0171
Payable Date: May 31, 2021
Record Date: April 30, 2021
Ex-dividend Date: April 29, 2021

________________________________________

KARSTEN ENERGY CORP. ("KAY.H")
BULLETIN TYPE: Delist
BULLETIN DATE: April 22, 2021
NEX Company

Effective at the close of business Friday April 30, 2021, the common shares will be delisted from TSX Venture Exchange at the request of the Company.

The Company obtained approval of the majority of minority shareholders on April 19, 2021.

________________________________________

21/04/22 - TSX Venture Exchange Bulletins

TSX VENTURE COMPANIES

ARIANNE PHOSPHATE INC. ("DAN")
BULLETIN TYPE: Shares for Debt
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 21,709,655 common shares at a deemed price of $0.275 per share, in settlement of a debt having a deemed value of $5,970,155:

Number of Creditors:

10 Creditors

Non Arm's Length Party / ProGroup Participation: None

For more information, please refer to the Company's press releases dated March 18, 2021 and April 1, 2021.

ARIANNE PHOSPHATE INC. (« DAN »)
TYPE DE BULLETIN: Émission d'actions en règlement d'une dette
DATE DU BULLETIN: 22 avril 2021
Société du groupe 2 de Bourse de Croissance TSX

Bourse de Croissance TSX a accepté le dépôt de la documentation de la société en vertu de l'émission proposée de 21 709 655 actions ordinaires à un prix de 0,275 $ par action, en règlement d'un montant de dette total de 5 970 155 $ :

Nombre de créanciers:

10 créanciers

Participation de personnes ayant un lien de dépendance / Groupe Pro: Aucune

Pour plus d'informations, veuillez-vous référer aux communiqués de presse émis par la société le 18 mars 2021 et le 1 avril 2021.

________________________________________

AURORA SOLAR TECHNOLOGIES INC. ("ACU")
BULLETIN TYPE: Halt
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Effective at 12:44 p.m. PST, Apr. 21, 2021, trading in the shares of the Company was halted at the request of the Company, pending news; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

________________________________________

AURORA SOLAR TECHNOLOGIES INC. ("ACU")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Effective at 7:00 a.m. PST, Apr. 22, 2021, shares of the Company resumed trading, an announcement having been made.

________________________________________

CIRCA ENTERPRISES INC. ("CTO")
BULLETIN TYPE: Halt
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Effective at 5:16 a.m. PST, Apr. 22, 2021, trading in the shares of the Company was halted at the request of the Company, pending news; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

________________________________________

CIRCA ENTERPRISES INC. ("CTO")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Effective at 10:30 a.m. PST, Apr. 22, 2021, shares of the Company resumed trading, an announcement having been made.

________________________________________

CLAREN ENERGY CORP. ("CEN")
BULLETIN TYPE: Remain Halted
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Further to the TSX Venture Exchange ('TSXV') Bulletin dated April 19, 2021, trading in the shares of the Company will remain halted Pending Receipt and review of acceptable documentation regarding the change of business and/or Reverse Take-Over pursuant to Listings Policy 5.2

This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange, pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

________________________________________

EQUBE GAMING LIMITED ("EQG")
BULLETIN TYPE: Halt
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Effective at 12:50 p.m. PST, Apr. 21, 2021, trading in the shares of the Company was halted Failure to Maintain Exchange Requirements; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

________________________________________

FRONTIER LITHIUM INC. ("FL")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on March 25, 2021:

Number of FT Units:

1,822,708 flow-through units ("FT Units"). Each FT Unit will consist one flow-
through common share and one-half of one common share purchase warrant.



Purchase Price:

$1.30 per share



Warrants:

911,354 whole common share purchase warrants to purchase 911,354 common
shares.



Warrant Exercise Price:

$1.50 for a two year period. The Warrants will be subject to an acceleration
clause such that if the Company's common shares trade at a price above $1.50
for 30 consecutive days beginning on August 16, 2021. In the event of
acceleration, the Company, at its sole discretion, will be able to accelerate the
expiry date of the Warrants.



Number of Placees:

12 placees



Insider / Pro Group Participation:


Name

Insider=Y /
ProGroup=P

# of FT Units

John R. Didone

Y

25,000




Finder's Fee:

Qwest Investment Fund Management Ltd. – $30,000 cash payments and
23,077 Finder's Warrants
Integral Wealth Securities Limited – $1,201.20 cash payments and 924
Finder's Warrants
Mine Equities Ltd. – $89,999.99 cash payments and 69,231 Finder's Warrants

Each Finder's Warrant will be exercisable at an exercise price of $1.50 for one common share of the Company for a period of 24 months from the date of issuance.

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company issued a news release dated April 21, 2021, announcing the closing of the private placement and setting out the expiry dates of the hold period(s). Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

________________________________________

LIONS BAY CAPITAL INC. ("LBI")
BULLETIN TYPE: Shares for Bonuses
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 2,560,991 non-transferable bonus warrants in consideration of a US$500,000 draw down on a US$1,000,000 loan facility dated July 4, 2019. The loan has a term of 12 months and interest is payable at 12% per annum. Each warrant is exercisable into one common share at $0.11 for a period of 12 months. A 7% implementation fee of the amount advanced is also payable.

________________________________________

NEXE INNOVATIONS INC. ("NEXE")
BULLETIN TYPE: Prospectus-Unit Offering
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Effective April 9, 2021, pursuant to the Company's Short Form Base Shelf Prospectus dated March 29, 2021 and Prospectus Supplement dated April 7, 2021 was filed with and accepted by TSX Venture Exchange, and filed with and receipted by the British Columbia Securities Commission, pursuant to the provisions of the Securities Act (British Columbia), and the Ontario Securities Commission, pursuant to the provisions of the Securities Act (Ontario), (the "Prospectus").

The Prospectus was also filed under Multilateral Instrument 11-102 Passport System in Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador receipted by the regulators in each of those jurisdictions (along with British Columbia and Ontario, the "Jurisdictions").

TSX Venture Exchange has been advised that closing occurred on April 9, 2021, for gross proceeds of $34,500,000 (including exercise of the over-allotment option).

Agents:

Canaccord Genuity Corp., PI Financial Corp., Haywood Securities Inc. and Roth
Canada ULC. (the "Underwriters")



Offering:

17,250,000 units ("Units").



Unit Price:

$2.00 per unit (the "Issue Price")



Warrant Exercise Price/Term:

Each warrant is exercisable at $2.50 (the "Exercise Price") for a two-year period.



Compensation Options:

As consideration for their services in connection with the Offering, the
Company paid to the Underwriters: (i) a cash commission equal to
$1,905,000 (the "Commission"); and (ii) 952,500 share purchase warrants
(the "Underwriters' Warrants"). Each Underwriters' Warrant is exercisable to
purchase one share ("Compensation Share") at the Issue Price for a period of
24 months



Over-Allotment Option:

The Underwriters were granted a 15% over-allotment option, which was
exercised in full at closing.

For further information, please refer to the Company's Prospectus Supplement dated April 7, 2021, which is available under the Company's SEDAR profile, and the Company's news releases dated April 9, 2021, which are available under the Company's SEDAR profile

________________________________________

NOBLE MINERAL EXPLORATION INC. ("NOB")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to an option and joint venture agreement dated March 4, 2021 (the "Agreement"), between Noble Mineral Exploration Inc. (the "Company") and Canada Nickel Company Inc. ("CNC"). Pursuant to the Agreement, CNC will acquire an option to earn up to an 80% interest in 39 mining claims held by the Company in MacDiarmid and Loveland Townships, Ontario (the "Claims").

As a consideration for the option, CNC is required to (i) issue 200,000 common shares of CNC to the Company, (ii) forgive the $160,224 amount currently owed by the Company to CNC, and (iii) transfer $500,000 in assessment credits to the Company. Pursuant to the Agreement, existing NSRs that apply to the Claims will continue to apply. In addition, under the terms of the Agreement, a 60% interest in the Claims will vest in CNC provided CNC funds at least $100,000 of exploration and development expenditures on the Claims within 18 months. An 80% interest in the Claims will vest in CNC provided CNC funds at least an additional $150,000 (for a total of $250,000) of exploration and development expenditures on the Claims within 36 months.

For further information, refer to the Company's news releases dated February 17, 2021, March 8, 2021, April 7, 2021, and April 14, 2021.

________________________________________

OUTCROP GOLD CORP. ("OCG")
BULLETIN TYPE: Prospectus-Unit Offering
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Effective March 22, 2021, the Company's Prospectus dated March 22, 2021 was filed with and accepted by TSX Venture Exchange, and filed with and receipted by the British Columbia and Ontario Securities Commissions, pursuant to the provisions of the British Columbia Securities Act. The prospectus has been filed under Multilateral Instrument 11-202 Passport System in Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador. A receipt for the prospectus is deemed to be issued by the regulator in each of those jurisdictions, if the conditions of the Instrument have been satisfied.

TSX Venture Exchange has been advised that closing occurred on March 26, 2021, for gross proceeds of $9,202,645 (including $1,200,345 from full exercise of the over-allotment).

Underwriter:

Mackie Research Capital Corporation and Canaccord Genuity Corp.



Offering:.

21,401,500 units, including 2,791,500 units from full exercise of the over-
allotment option. Each unit consists of one share and one-half warrant. Each
full warrant is exercisable into one common share at $0.60 for 24 months from
closing.



Unit Price:

$0.43 per unit



Warrant Exercise Price/Term:.

$0.60 per share to March 26, 2023.



Underwriters' Option:

1,246,429 non-transferable warrants exercisable to purchase one share at $0.43
per share to March 26, 2023.

The Underwriter was also paid a cash commission of $535,964.68 from the gross proceeds of the Offering.

For further details, please see the Company's Short Form Prospectus dated March 22, 2021 and closing news release dated March 26, 2021, which are available on SEDAR.

________________________________________

PIVOTAL FINANCIAL CORP. ("PIV.P")
BULLETIN TYPE: New Listing-CPC-Shares
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Reference is made to our bulletin dated April 20, 2021, with respect to the listing of the Company's shares.

We have received confirmation that the closing has occurred. Therefore, the common shares of the Company which were listed at the close of business April 21, 2021, commenced trading at the opening of business on Thursday, April 22, 2021.

The Company has completed its public offering of securities prior to the opening of market on April 21, 2021. The gross proceeds received by the Company for the Offering are $2,000,000 (10,000,000 common shares at $0.20 per share).

PORTOFINO RESOURCES INC. ("POR")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation pertaining to an Option Agreement dated April 6, 2021 (the "Agreement"), between Portofino Resources Inc. (the "Company") and two (2) arm's length parties (collectively, the "Optionors"), whereby the Company may acquire a 100% interest in four (4) mineral claims (the "Allison Lake North Property"), located approximately 100km east of Red Lake in northwestern Ontario.

Under the terms of the Agreement, the Company will make aggregate cash payments of $78,000 and issue an aggregate of 800,000 common shares to the Optionors over a three-year period to earn the full 100% interest in the Property.

The Optionors will retain a 1.5% net smelter return royalty on the Property, of which 50% is purchasable by the Company at any time for $400,000.

For further details, please refer to the Company's news release dated April 20, 2021.

________________________________________

POWERBAND SOLUTIONS INC. ("PBX")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Effective at 6:30 a.m. PST, April 22, 2021, shares of the Company resumed trading, an announcement having been made.

________________________________________

RED PINE EXPLORATION INC. ("RPX")
BULLETIN TYPE: Private Placement-Brokered
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Brokered Private Placement announced March 30, 2021:

Number of Shares:

37,567,400 common shares, 5,555,212 Tranche 1 flow-through shares,
4,496,403 Tranche 2 flow-through shares



Purchase Price:

$0.40 per common share, $0.45 per Tranche 1 flow-through share, $0.556 per
Tranche 2 flow-through shares



Number of Placees:

106 Placees



Insider / Pro Group Participation:


Name

Insider=Y / ProGroup=P

Number of Shares

Alamos Gold Inc.

Y

9,564,336

QuentinYarie

Y

125,000

Paul D. Martin

Y

250,000

Robert Dodds

Y

111,110

Peter Kampian

Y

55,550

Aggregate Pro Group Involvement
[1 placee]

P

3,600,000




Broker/Finder's Fee:

Haywood Securities Inc., Eventus Capital Corp., INFOR Financial Inc. and IBK
Capital Corporation received an aggregate of $1,189,008.36 in cash and
2,825,640 broker warrants. Each broker warrant is exercisable into one common
share of the Company at $0.40 for a period of two years.

For more information, please refer to the Company's news releases dated February 23, 2021, March 23, 2021 and March 30, 2021.

________________________________________

RED PINE EXPLORATION INC. ("RPX")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation pertaining to a Securities Purchase Agreement (the "Agreement"), dated February 22, 2021, among the Company and several arm's length parties (the "Vendors"), whereby the Company has indirectly acquired the remaining 36.69% interest in the collection of properties, assets and permits known as the "Wawa Gold Project" not already held by the Company (the "Property").

Under the terms of the Agreement, the Company has agreed to acquire the Property for $12,605,396 satisfied in the following manner: i) $11,341,315 cash payment, ii) set-off of $1,104,081.00 owed to the Company by the Vendors, iii) grant of a 2% net smelter return royalty (the "NSR") valued at $160,000. The Company has a right to purchase 1.5% of the NSR for $1,750,000.00.

Additionally, the Company has compensated Haywood Securities Inc. for financial advisory services provided in connection with the Property acquisition by paying $400,000 in cash and issuing 226,244 common shares.

For more information, please refer to the Company's news releases dated February 23, 2021 and March 30, 2021.

________________________________________

ROSCAN GOLD CORPORATION ("ROS")
BULLETIN TYPE: Prospectus-Share Offering
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Effective April 05, 2021, the Company's short form prospectus dated April 01, 2021, qualifying the distribution of up to 35,714,500 common shares, was filed with and accepted by TSX Venture Exchange (the "Exchange"), and filed with and receipted by the Ontario Securities Commission as principal regulator. Under Multilateral Instrument 11-102 - Passport System, the Prospectus is deemed to have been filed with and receipted by each of the British Columbia and Alberta Commissions.

The Exchange has been advised that closing occurred on April 08, 2021 for aggregate gross proceeds of CDN$15,000,090.

Offering:

35,714,500 common shares



Offering Price:

CDN$0.42 per common share



Agents:

Clarus Securities Inc., Beacon Securities Limited, Echelon Wealth
Partners Inc., Cormark Securities Inc. and Paradigm Capital Inc.



Agent(s) Commission:

An aggregate of CDN$1,025,350.40 in cash and 2,142,870 non-
transferrable broker warrants. Each broker warrant entitles the holder to
acquire one common share at CDN$0.55 until April 8, 2022.

For further details, please refer to the Company's short form prospectus dated April 01, 2021 and news releases dated March 15, 2021, March 16, 2021 and April 08, 2021.

________________________________________________

SIGNATURE RESOURCES LTD. ("SGU")
BULLETIN TYPE: Private Placement-Non-Brokered, CORRECTION
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Further to the TSX Venture Exchange bulletin dated April 21, 2021, the following issuer name should have read as follows:

SIGNATURE RESOURCES LTD. ("SGU")

All other information remains unchanged.

______________________________________

STUVE GOLD CORP. ("STUV")
BULLETIN TYPE: Halt
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Effective at 7:23 a.m. PST, Apr. 22, 2021, trading in the shares of the Company was halted at the request of the Company, pending news; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

________________________________________

STUVE GOLD CORP. ("STUV")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Effective at 8:45 a.m. PST, Apr. 22, 2021, shares of the Company resumed trading, an announcement having been made.

________________________________________

THE FLOWR CORPORATION ("FLWR") ("FLWR.WT")
BULLETIN TYPE: Prospectus-Unit Offering
BULLETIN DATE: April 22, 2021
TSX Venture Tier 1 Company

Effective March 12, 2021, the Company's final short form prospectus dated March 12, 2021, was filed with and accepted by TSX Venture Exchange (the "Exchange"), and filed with and receipted by the Ontario Securities Commission. The prospectus has been filed under Multilateral Instrument 11-102 Passport System in British Columbia, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador.

The Exchange has been advised that the closing of the offering occurred on March 16, 2021, for gross proceeds of $15,875,001, inclusive of the partial exercise of the over-allotment option.

Offering:

31,127,453 Units (includes 1,127,453 Units of underwriter's over-
allotment option). Each Unit consists of one common share and one
common share purchase warrant, with each whole warrant being
exercisable into one common share at an exercise price of $0.64 for a
period of 24 months.



Unit Price:

$0.51 per Unit.



Underwriter(s):

Cantor Fitzgerald Canada Corporation, ATB Capital Markets Inc.,
Canaccord Genuity Corp., and Echelon Wealth Partners Inc.



Underwriter(s) Commission:

An aggregate of $1,111,250.08 and 1,867,647 non-transferrable broker
warrants. Each broker warrant entitles the holder to acquire one
common share at an exercise price of $0.51 for a period of 24 months.

For further details, please refer to the Company's short form prospectus dated March 12, 2021, and news releases dated February 10, 2021, February 11, 2021, March 12, 2021, and March 16, 2021.

______________________________________

VOLEO TRADING SYSTEMS INC. ("TRAD")
BULLETIN TYPE: Remain Halted
BULLETIN DATE: April 22, 2021
TSX Venture Tier 2 Company

Further to the TSX Venture Exchange ('TSXV') Bulletin dated Apr. 20, 2021, trading in the shares of the Company will remain halted Pending Receipt and review of acceptable documentation regarding the change of business and/or Reverse Take-Over pursuant to Listings Policy 5.2

This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange, pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

________________________________________

NEX COMPANIES:

CANADIAN SILVER HUNTER INC. ("AGH.H")
BULLETIN TYPE: Private Placement- Non-Brokered
BULLETIN DATE: April 22, 2021
NEX Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on March 18, 2021:

Number of Shares:

2,230,000 flow-through common shares
2,762,500 non-flow-through common shares



Purchase Price:

CDN$0.10 per flow-through common share
CDN$0.08 per non-flow-through common share



Warrants:

4,992,500 share purchase warrants to purchase 4,992,500 common shares



Warrant Exercise Price:

CDN$0.11 per share for a twelve (12) month period



Number of Placees:

30 Placees



Insider / Pro Group Participation:


Name

Insider=Y /
ProGroup=P

# of Units

Aggregate Pro Group Involvement
[5 placees]

P

725,000




Finder's Fee:

Aggregate of CDN$30,720 in cash and 351,400 finders warrants payable to
StephenAvenue Securities Inc., Jean-David Moore and German Mining
Networks GmbH. Each finder warrant entitles the holder to acquire one common
share at CDN$0.11 for a twelve (12) month period.

Pursuant to Corporate Finance Policy 4.1, Section 1.9(e), the Company has issued a new release announcing the closing of the private placement and setting out the expiry dates of the hold period(s).

________________________________________

HEALTH LOGIC INTERACTIVE INC. ("CHIP.H")
BULLETIN TYPE: Shares for Debt
BULLETIN DATE: April 22, 2021
NEX Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 1,166,666 shares at a deemed price of $0.12 per share and 1,166,666 share purchase warrants to settle outstanding debt for $140,000 from previously issued promissory notes.

Number of Creditors:

12 Creditors



Warrants:

1,166,666 share purchase warrants to purchase 1,166,666 shares



Warrant Exercise Price:

$0.16 for a six (6) month period from the date of issuance. The Warrants are
subject to an acceleration clause, such that if the volume weighted average
closing price of the Company's common shares is equal to or exceeds $0.20 for
10 consecutive trading days (the "Acceleration Trigger Date"). In the event of
acceleration, the Warrant expiry date will be accelerated to the date that is 30
business days after Acceleration Trigger Date.



Insider / Pro Group Participation:

None

The Company shall issue a news release when the shares are issued and the debt extinguished.

________________________________________

MUST CAPITAL INC. ("MUST.H")
BULLETIN TYPE: Private Placement- Non-Brokered
DATE: April 22, 2021
NEX Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on January 26, 2021 and March 17, 2021:

Number of Shares:

7,500,000 common shares



Purchase Price:

CDN$0.10 per share



Warrants:

7,500,000 share purchase warrants to purchase 7,500,000 common shares



Warrant Exercise Price:

CDN$0.20 per share until April 15, 2022



Number of Placees:

16 Placees



Insider / Pro Group Participation:


Name

Insider=Y /
ProGroup=P

# of Units

Michele Marrandino

Y

760,000

Feolan Capital Inc. (Michael Feola)

Y

1,480,000




Aggregate Pro Group Involvement
[3 placees]

P

800,000

Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

Pursuant to Corporate Finance Policy 4.1, Section 1.9(e), the Company has issued a new release announcing the closing of the private placement and setting out the expiry dates of the hold period(s).

________________________________________

SOURCE TSX Venture Exchange

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/April2021/22/c2823.html

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    President Joe Biden’s tax boost proposals under his infrastructure bill have targeted technology giants like Apple Inc (NASDAQ: AAPL) and Microsoft Corp (NASDAQ: MSFT), Amazon.Com Inc (NASDAQ: AMZN), Facebook Inc (NASDAQ: FB), Intel Corp (NASDAQ: INTC) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), who had reported over $100 billion in non-U.S. profits in their last fiscal years, Bloomberg reports. The tech industry prefers to stash profits at low-tax offshore jurisdictions due to easier mobility of their main assets like software code, patents, and other intellectual property compared to factories and other physical assets. The addition of extra deductions and other benefits to Donald Trump’s 2017 tax plan diluted its attempt to recover taxes from overseas profits. However, Biden’s law will further intensify the country’s friction with the tech companies over misinformation and antitrust investigations. Amazon Chair, Jeff Bezos, has endorsed higher corporate taxes. Intel’s Pat Gelsinger panned Biden’s plan. Trump’s 2017 global intangible low-taxed income (Gilti) targeted non-U.S. profits from intangible assets. Biden plans to double the Gilti tax rate to 21% from 10.5% and restrict foreign tax credits. It could increase corporate tax bills by almost $300 billion over a decade, with most of the burden falling on the tech sector. Microsoft’s annual Gilti tax bill could more than double to $2 billion. Microsoft generated 86% of its foreign pretax income from Ireland and Puerto Rico operations in 2020, which have lower corporate tax rates than the U.S. The 2017 tax law also allowed a tax deduction for overseas intangible income (FDII) to encourage the companies to retain their intangible assets at home country. Google’s share of domestic income rose after it began licensing intellectual property in the U.S. in 2019. Facebook followed suit. However, Biden FDII’s annulment proposal would raise the tax bills of tech companies. Amazon claimed $500 million in total FDII deductions in 2018, 2019, and 2020. Biden also proposed a 15% minimum book tax on high-profit organizations that escape taxes via research and development, foreign credits, and stock-based compensation. Google, Amazon, and Apple’s tax bills would be higher by $847 million, $1.2 billion, and $3.8 billion, respectively, if Biden’s book tax existed in 2020. The Organization for Economic Cooperation and Development (OECD) also represents several countries outside the U.S. over similar tax concerns. The OECD sought to replace the digital services taxes to procure higher revenue from companies like Google and Facebook. However, Amazon is escaping on the pretext of its thin margins. See more from BenzingaClick here for options trades from BenzingaApple, Google Face Antitrust Charges At Senate Hearing: WSJDOJ Forms Task Force To Curb Ransomware Attack: WSJ© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Rupee Fall Is Hurting Bonds Now Among Asia’s Worst: India Credit

    (Bloomberg) -- A slide in the rupee is exacerbating a slump in Indian corporate dollar notes that are now among the worst performers in Asia, just as concerns mount that companies are hedging less.The securities have lost about 0.1% in April, worse than a 0.4% gain for a broader Asian dollar bond gauge, according to a Bloomberg Barclays indexes. All the other countries in Asia have posted positive returns, except China which lost about 0.4% after the stumble by China Huarong Asset Management Co.The weaker rupee pushes up servicing costs on foreign debt. The currency has plunged about 2.4% against the dollar this month, making it Asia’s worst-performer. Spiking Covid-19 cases threaten to worsen the selloffAbout 5 out of 10 Indian firms hedge their foreign borrowings in India as compared to about 8 several years ago before the RBI eased rules on hedging, said Samir Lodha, chief executive officer at QuantArt Market Solutions, a Mumbai-based advisory firm. “The drop in the rupee this month may prompt more local companies with foreign borrowings to consider at least some low-cost hedging.”Primary Market -- Foreign Borrowings SlowThe weaker rupee is also making borrowers hesitate to tap what would otherwise be some of the lowest borrowing costs ever in the dollar bond market. Just one Indian company has settled a note this month: a $585 million deal from ReNew Power. That leaves issuance set for the lowest in six monthsLocal firms have also shunned foreign-currency loans in April after borrowings of $7.2 billion in the previous quarter“Most corporates will definitely pause their plans to issue fresh foreign-currency debt as they wait for the rupee to stabilize,” said Abhishek Goenka, founder of IFA Global, a Mumbai-based advisory firm. “Pandemic-induced currency volatility is making it difficult for borrowers to assess their foreign debt costs.”Firms may be turning more to the local credit market, even though there have been fresh obstacles there tooThey sold 47.6 billion rupees of bonds this week and still plan as much as 80.5 billion rupees more. If all those sales go through, that would be higher than in the previous two weeks combinedStill, offerings have fallen to 139.9 billion rupees ($1.9 billion) this month, the slowest start to a financial year since 2014. That’s due in part to rules that took effect April 1 strengthening the role of trustees for secured bonds backed by assetsSecondary Market -- Sovereign Rating ConcernsThe latest wave of coronavirus infections is also bad for India’s sovereign rating. The country has the lowest investment-grade score with a negative outlook at Moody’s Investors Service and Fitch Ratings“We expect a repeat of 2020’s sudden crash in economic activity in the coming months,” said Timothy Wee Lee Tan and Jason Lee, Bloomberg Intelligence analysts. “With a downgraded GDP growth outlook for FY22, India’s debt burden will be higher than the current IMF forecast, implying an elevated risk of ratings falling into speculative grade.”Any official gross domestic product downgrade may lead to pre-emptive widening of the option-adjusted spread for Indian dollar credits, with an actual offshore sovereign rating downgrade likely to push premiums up to 90 basis points wider to trade closer to Brazil and South Africa, according to Bloomberg IntelligenceDistressed Debt - ARC Rules Under ReviewReserve Bank of India formed a six-member panel Monday to review rules for Asset Reconstruction Companies or ARCs, which help India’s banking system deal with one of the world’s worst bad loan ratios among major economiesARCs have been in the spotlight in recent weeks:Mar. 18: India’s Ministry of Corporate Affairs is investigating allegations of financial irregularities at the asset reconstruction arm of Edelweiss Financial Services Ltd., according to people with direct knowledge of the matter. Edelweiss said it hasn’t received any intimation of any inspection by the ministryMar. 14: India’s central bank has rejected Yes Bank Ltd.’s proposal to set up an ARC for acquiring bad loans on conflict of interest concerns, Mint reported citing people it didn’t identifyMeanwhile, Infrastructure Leasing & Financial Services, whose default in 2018 triggered a prolonged credit crisis in the country, plans to resolve 500 billion rupees ($6.6 billion) of its debt by the end of September, Chairman Uday Kotak said last week. Investors are closely watching the debt resolution as a test case for group insolvencyKotak, who is heading the IL&FS board after government seized control of the shadow lender in 2018, expects to resolve about 62% of its 1 trillion rupees of debtAnother group facing challenges in servicing its debt is Future Group. The Indian supermarket-operator Future Retail Ltd. approved a debt resolution plan that eases some immediate concerns as a legal battle with partner Amazon.com Inc. threatens to delay an asset sale to Reliance Industries Ltd. India’s top court scheduled a final hearing in the matter to May 4Best and Worst Performing Corporate Dollar Bonds Last 12 MonthsFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Replay: “The Future of Security” with CEOs of Evolv Technology & NewHold Investment

    Metal detectors and security checks may soon be a thing of the past. Evolv Technology, an AI security screening company, already uses its platform at amusement parks, concert halls and stadiums across the country to provide safety for large crowds. IPO Edge and The Palm Beach Hedge Fund Association hosted fireside chat with Evolv Technology and special […]

  • CN Rail kicks off regulatory approval process for $30 billion Kansas bid

    Canadian National had informed the STB, which oversees freight rail service and rates in the United States, that it plans to file an application, seeking permission to combine with Kansas City Southern, the company said. The notice commences a regulatory process should Kansas City Southern accept Canadian National's offer, it added. The company's offer trumps a $25 billion bid made by rival Canadian Pacific for Kansas City Southern in March.

  • Philippines Raises 2.1 Billion Euros in Three-Part Bond Sale

    (Bloomberg) -- The Philippines returned to the euro bond market for the first time in more than a year on Wednesday, raising 2.1 billion euros ($2.5 billion).The nation tapped low interest rates in the euro bond market with a three-part note offering. Proceeds from the issuance will be used in part for the nation’s budget, as the Philippines tackles the economic fallout from the pandemic.The Philippines has the highest number of active coronavirus cases in Southeast Asia, and a recent surge in infections is overwhelming hospitals and dimming economic outlook. Philippines Finance Secretary Carlos Dominguez said earlier this month the government plans to sell dollar bonds too before interest rates rise. The latest borrowing came less than a month after the nation raised 55 billion yen ($509 million) in the Samurai bond market.The government sold 650 million euros of four-year notes at 75 basis points over mid swaps. See here for additional details.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Chip supply shortage may hurt cigarette makers

    Cigarette giant Philip Morris is keeping a close eye on whether the yawning semiconductor shortage will impact its fast-selling electronic heat-not-burn product called IQOS, which houses a microchip.

  • Malaysia Sells World’s 1st Sovereign Dollar Sustainability Sukuk

    (Bloomberg) -- Malaysia became the first country to sell a dollar Sukuk linked to sustainable activities, adding to a growing number of issuers turning to debt financing for environmental and social projects.The Southeast Asian country priced $800 million of 10-year sustainability Islamic finance notes on Wednesday, Malaysia’s finance ministry said. The deal also included a $500 million 30-year tranche. The offering was oversubscribed by 6.4 times.Sustainable debt issuance rose 29% last year to a record $732 billion, according to figures from BloombergNEF. Indonesia sold green debt that complies with religious principles in 2018, making it the first country in the world to issue such securities, according to a United Nations Development Programme report.“Demand for ESG or sustainability-linked bonds continues to gain traction while there is still a limited supply” of such issuance from Southeast Asia, said Winson Phoon, head of fixed-income research at Maybank Kim Eng Securities in Singapore. “Adding the sustainability label helps widen further the investor base.”Spreads on both parts of the deal tightened during marketing, and the sustainability Sukuk sold at 50 basis points over Treasuries compared with initial price guidance of around 90 basis points. The deal resulted in the lowest-ever yield and spread for a U.S.-dollar Sukuk issuance by Malaysia, the finance ministry said.Malaysia is an infrequent issuer in overseas bond markets, last selling dollar debt in 2016. Its existing U.S. currency notes have a longer duration than Asian credit more broadly, which made them vulnerable to a selloff last quarter as yields spiked. They’ve since recouped some losses as interest rates retreated.Like governments around the globe, Malaysia has been tackling the impact of the pandemic, and Prime Minister Muhyiddin Yassin unveiled a 20 billion ringgit ($4.9 billion) stimulus package last month that included discounts on power bills, tax breaks and cash aid to the poor.Malaysia’s gross domestic product may expand 6% to 7.5% in 2021, its central bank said last month. That’s potentially slower than its earlier projection of 6.5%-7.5% growth, but still ahead of many of its neighbors.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Chanel loses European court fight in trademark dispute with Huawei

    French luxury house Chanel on Wednesday lost its trademark fight with Huawei Technologies after a top European court said their logos bear no similarity to each other. The dispute dated to 2017 when Huawei sought approval from the EU Intellectual Property Office (EUIPO), a trademark body, to register its computer hardware trademark which has two vertical interlocking semi-circles. Privately owned Chanel objected, saying that the design was similar to its registered French logo of two horizontal interlocking semi-circles used for its perfumes, cosmetics, costume jewellery, leather goods and clothing.

  • Gold retreats 1% as dollar, yields gain

    Gold slipped 1% on Thursday, retreating from a two-month high, as an uptick in the dollar and U.S. Treasury yields hurt the metal's appeal, while palladium lingered near an all-time high. Spot gold was 0.7% lower at $1,780.36 per ounce by 12:54 p.m. EDT (1654 GMT), after hitting its highest since Feb. 25 at $1,797.67. "$1,800 was a bit of a psychological resistance, so we've come back with tests... The dollar and the 10-year (yields) are both a little bit higher and that's pressuring gold as well," said ED&F Man Capital Markets analyst Edward Meir.

  • Market Wrap: Bitcoin Price, Dominance Slips; Ether Hits Fresh Record High Over $2.6K

    As BTC's price continues lower, one possible benefit is a decrease in the crypto's volatility.

  • Turkish Crypto Exchange Goes Bust as Founder Flees Country

    (Bloomberg) -- One of Turkey’s largest cryptocurrency exchanges said it lacked the financial strength to continue operations, leaving hundreds of thousands of investors fearing their savings have evaporated as authorities sought to locate the company’s 27-year-old founder, who fled the country.Confusion reigned about how many users of the Thodex exchange were affected and how much money was at stake. In a statement from an unknown location, Thodex Chief Executive Officer Faruk Fatih Ozer promised to repay investors and to return to Turkey to face justice after he did. The government moved to block the company’s accounts and police raided its head office in Istanbul.Losses could be as high as $2 billion, according to Haberturk newspaper, and a lawyer for the victims said the money invested by about 390,000 active users had become “irretrievable.” Both figures have been disputed by Ozer. About 30,000 users have been impacted, he said in a statement on the company’s website on Thursday.While authorities and customers tried to work out the details of what happened, a senior official in President Recep Tayyip Erdogan’s office called for rapid regulation of the crypto market. Globally, the surge in the prices of digital tokens has been accompanied by convictions and regulatory measures after various scams tied to trading platforms.The Turkish government should take action “as soon as possible,” Cemil Ertem, a senior economic adviser to Erdogan, told Bloomberg. “Pyramid schemes are being established. Turkey will undoubtedly carry out a regulation that’s in line with its economy but also by following global developments.”Alternative InvestmentsThodex was part of the cryptocurrency boom that has drawn in legions of Turks seeking to protect their savings from rampant inflation and an unstable currency. Inflation hit 16.2% in March, more than three times the central bank’s target of 5%. The Turkish lira has weakened 10% against the dollar this year, its ninth consecutive year of losses.The government spent a massive $165 billion in foreign-exchange reserves over the past two years, Erdogan revealed on Wednesday, part of a futile effort to prop up the national currency. Concern about the country’s dwindling foreign-exchange reserves, which are negative when money borrowed by the government from private banks via swap agreements are factored in, has fueled concern about both lira and dollar deposits -- and pushed savers into alternative investment vehicles.Last Friday, the volume of trade in Turkish crypto markets tripled to over $1.2 billion from a week earlier, according to data published by coingecko.com, which tracks data on price, volume and market value on crypto markets. That compares with an average daily trading volume in the Turkish stock market’s benchmark index of about $3.1 billion.“One can establish a crypto exchange with just 50,000 liras (about $6,000) in capital,” Oguz Evren Kilic, a lawyer representing Thodex users, said by phone. “There’s a huge regulatory gap in this field.”Ozer didn’t respond to multiple calls to his mobile phone. The company’s call center also didn’t pick up calls. Bedirhan Oguz Basibuyuk, Thodex’s lawyer, told Bloomberg he doesn’t know where Ozer is but that he’s not in Turkey. Demiroren News Agency reported that he fled to Albania on Tuesday, publishing what it said was a photo of him at Istanbul’s airport.Dogecoin CampaignLast month, Thodex initiated a campaign to boost membership by offering millions of free Dogecoins to new registrants. Its website says 4 million of the coins were distributed, though many people have taken to social media to complain they never received them.“I was born as one of the three siblings of a civil servant,” Ozer said in his statement, adding that he’s a high-school dropout. As the company ran into financial trouble, he said he thought about either committing suicide or giving himself up to authorities, but both of those options meant clients’ assets would never be retrieved.“So I decided to stay alive and fight, work and repay my debts to you,” he said. “The day I repay all my debt, I will return to my country and give myself in to justice.”(Updates with new lede, government agency action, details throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Cathie Wood's ARK Invest piles into UiPath, trims Tesla

    UiPath's shares surged 23.2% in their New York Stock Exchange debut, underscoring investors' appetite for high-growth tech stocks. ARK Invest's data showed the firm's exchange traded funds bought a total of about 2.7 million shares, about a third of the day's traded volume. The ARK Next Generation Internet ETF and the ARK Innovation ETF also bought a total of 247,717 shares of crypto exchange Coinbase Global Inc, which went public last week.

  • Crypto Mogul Adds Bitcoin, Ether Fund Listings to His Empire

    (Bloomberg) -- Huobi Technology Holdings Ltd. has launched four cryptocurrency-related funds targeting $100 million in total assets by September, the latest attempt to ride a stunning rally in digital assets.Huobi Tech is rolling out four funds including ones that will virtually track Bitcoin and Ether prices, allowing investors to bet on the coins without actually holding any currency. It’s the latest so-called crypto tracker after similar funds have launched around the world. The firm already has secured $50 million in commitments across the four funds.The offerings also include an active fund investing in a basket of virtual assets, and a private equity fund dedicated to investment in the crypto mining sector. In March, Huobi Tech obtained a license from the Securities and Futures Commission of Hong Kong to manage and distribute funds invested solely in crypto -- the first such approval after Arrano Capital.“Virtual assets have become established as a strong category in alternative investment, and more players will compete in this arena,” Huobi Tech finance chief Zhang Li said during a Zoom interview from Beijing. “For professional investors who still have concerns about things like security and tax filing, they will opt to buy our funds rather than holding coins themselves.”The new Hong Kong license and funds highlight 38-year-old Huobi founder Leon Li’s endeavor to ensure his crypto empire, whose main exchange unit has drawn scrutiny over the years from Beijing, complies with regulations as it expands into adjacent arenas.The move also come as mainstream financial companies embrace crypto after Bitcoin’s value took off in October. However, some still warn of a bubble, and volatility and regulatory risk around the globe remain concerns for the asset class.Longer term, Zhang said she expects the firm to provide a full suite of crypto-related services including custody, without specifying details.Read more: The Crypto Mogul Who’s Got the Ear of China’s Central BankFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Dogecoin cryptocurrency slumps after hashtag-fueled surge to record high

    Meme-based cryptocurrency Dogecoin fell on Tuesday after hitting an all-time high in a wild session that saw supporters of the token once considered a parody use hashtags to fuel a rally until it lost steam. Dogecoin ultimately fell 15.4% to US$0.33, but during the session when it hit a record peak, its market capitalization soared to more than $50 billion. Dogecoin fans used the hashtags #DogeDay and #DogeDay420 to post memes, messages and videos on Twitter, Reddit and TikTok, referring to the informal April 20 holiday to celebrate cannabis which is marked by smoke-ins and street parties.

  • Turkish Crypto Exchange Goes Offline, CEO Missing

    The report by government-controlled Anadolu Agency comes a week after the country’s central bank announced it was banning the use of crypto for payments.

  • Deutsche Boerse to de-list Coinbase from Xetra, Frankfurt trade

    BERLIN (Reuters) -Deutsche Boerse said on Wednesday it would delist Coinbase Global Inc shares from its Xetra trading system and the Frankfurt stock exchange over incorrect data, with the U.S. cryptocurrency exchange saying it was working to resolve the "administrative error". When Coinbase trading started on Deutsche Boerse's platforms, a wrong reference code - a so-called LEI code - was used by mistake, Deutsche Boerse said, leading to the delisting of the shares by the close of Friday's trading session.

  • Treasury-Buying Spree of $17 Billion Has UAE Eclipsing China

    (Bloomberg) -- The United Arab Emirates went on its biggest Treasury-buying spree on record in February, purchasing more of the safe-haven securities than China in one of the worst months for U.S. debt markets in years.The Gulf nation, OPEC’s third-biggest crude producer, raised its stockpile by about $17 billion to $50.6 billion, making it the largest buyer after the U.K. that month, according to U.S. Treasury Department data. A spokesperson for the UAE central bank declined to make any immediate comment Wednesday.Though the UAE, whose capital Abu Dhabi accounts for almost 6% of the world’s oil reserves, may have built up enough of a buffer to commit more if its dollar earnings to the $21 trillion Treasuries market, it came as prices tumbled amid growing expectations of a global economic rebound. U.S. debt dropped 1.8% in February, according to a Bloomberg Barclays Index, with the yield on the benchmark 10-year note climbing about 34 basis points, its sharpest increase since November 2016.“Other than the fact that rates were higher and that is the deepest and most liquid market, I wouldn’t know any other reason” why the government would boost purchases, said Abdul Kadir Hussain, the Dubai-based head of fixed-income asset management at Arqaam Capital.The move took UAE holdings to levels last seen in 2019 before the global pandemic and the crash in oil prices. China bought $9 billion of Treasuries in February to bring its total to $1.1 trillion, the highest since mid-2019. The country’s holdings are second only to Japan, which holds almost $1.3 trillion.Although a recovery in oil has been a boon across the energy-rich Middle East, the windfall may be even bigger for the UAE since it needs one of the lowest crude prices to balance its budget. Other top oil exporters in the Persian Gulf, including Saudi Arabia and Kuwait, cut back their Treasury holdings in February.The official tally may not accurately reflect the true size of a country’s holdings if they are held by banks in foreign countries.Like many of its regional peers, the UAE needs to have sufficient reserves to maintain confidence in its currency peg to the dollar. The central bank’s gross international reserves rose to almost 389 billion dirhams ($105.9 billion) in February, from 381.9 billion dirhams a month earlier.The International Monetary Fund estimates the UAE central bank’s reserves will reach $119 billion this year, in addition to more than $1 trillion in assets managed by the country’s wealth funds.Treasuries extended their declines in March, with the 10-year yield jumping a further 34 basis points to 1.74%. The yield was at 1.58% as of 10:39 a.m. in London Wednesday.(Adds China ranking, Japan’s holdings in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Sanjeev Gupta’s Father Has Moved From U.K. as Group Battles for Survival

    (Bloomberg) -- Parduman Gupta, father of embattled metals tycoon Sanjeev Gupta, has moved out of the U.K., just as the pair’s GFG Alliance teeters on the brink following the collapse of its largest lender Greensill Capital.The senior Gupta has changed his country of usual residence from Britain to India, according to several filings made over the past few weeks at Companies House, the business registry. He owns Simec Group, the branch of the business empire which deals in renewable energy, shipping and mining, and was founded by the magnate as an export-and-import house in India.It’s not clear where Parduman Gupta is currently, but a spokesman for Companies House said that a company director must list their country of residence, and that this “should correspond with their usual residential address.” A spokesman for GFG Alliance, a loose grouping of companies owned by the father and son, declined to comment.Sanjeev Gupta has also been absent for several months from the U.K., where GFG owns numerous steel and aluminum plants and employs around 5,000 people. He said on recent podcasts for GFG employees that he left the U.K. for Dubai before Christmas, and hasn’t returned since.“Dubai is the perfect location for me and my family to operate out of for now,” Gupta said on a April 16 podcast, citing the city’s time zone.But he said that he was keen to be on the move again. “As soon as Covid travel restrictions in the U.K. and Australia and Europe are lifted I will definitely be trying to get in front of the customers and employees around the world.”‘Very Opaque’GFG last month asked the U.K. government for a 170 million-pound ($235 million) bailout, but the request was rebuffed. Business Secretary Kwasi Kwarteng told a parliamentary committee last week that it would be “very irresponsible” to give taxpayers’ money to the group, describing it as “very, very opaque” and having “liabilities that nobody seems to have got to the bottom of.”GFG has borrowed about $5 billion from Greensill, and is desperately seeking fresh financing, which Sanjeev Gupta is coordinating from Dubai.Some progress has been made. Three lenders are in talks to refinance one of his Australian steel mills, while a private equity firm has positioned itself to buy two of the group’s aluminum plants.Still, other parts of the business are facing difficulties. Three French units were put into voluntary administration last week, while other parts of GFG in France and Belgium have sought protection from their creditors.Gupta said on the April 16 podcast that some of his U.K. assets were “struggling at the moment with the lack of funding.” He called on GFG employees to be “brave,” but warned of “some difficult decisions” to come.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Oil Price Fundamental Daily Forecast – Global Demand Worries, Surprise Rise in US Crude Stocks Weigh on Prices

    Crude oil started the day weaker on concerns surging COVID-19 cases in India will drive down fuel demand in the world’s third-biggest oil importer.