DDoc...RE: Your post.."
"With the warrants GCC needs 2m+ shares of BGM to have the same potential they have currently. 20% interest will not do it. That's would be a 50% dilution at BGM $5"
.That was my thought, currently GCC owns about 2 mil shares and warrants of BGM, and curently they are about 7.8 mil shares and warrants of GCC, now GCC is adding 9 mil shares and warrants to raise $1.5 mil, FC and his drilling company are owed about $750,000 from GCC. So it appears to me that that GCC is being severely diluted and if FC is paid what he is due through this dilution and then loaning that $750,000 to BGM at 20% it just does not seem like good business ethics, it may be legal but it sure does not seem ethical. Does anyone know for sure where the $1.5 mil being raised by the GCC PP is going? If none is going to FC or BGM that is one thing but if the entire or part of the $1.5 mil is going to BGM (as someone once posted), then the GCC shareholders should be issued additional BGM stock for payment to avoid the severe dilution. JMO
Below is GCC P/R if you missed it, FC is CEO and owns a large # of GCC shares if you did not know.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 6, 2012) -
NOT FOR DISSEMINATION IN THE US OR TO US WIRE SERVICES
Golden Cariboo Resources Ltd. (TSX VENTURE:GCC.H) ("Golden Cariboo" or the "Company") announces a private placement financing of up to 6,000,000 units at a price of $0.25 per unit (the "Units") to raise up to an aggregate total of $1,500,000 (the "Financing"). Each Unit consists of one common share in the equity of Golden Cariboo and one half of one share purchase warrant (the "Warrants"); each whole Warrant entitles the holder to purchase one additional common share (a "Share") at a price of $0.35 per Share for a period of one year from closing of the Financing. Proceeds of the Financing will be used for general working capital purposes. Finder's fees may be payable in connection with the Financing. Closing of the Financing is subject to regulatory approval
This news release has been prepared on behalf of the board of directors which takes full responsibility for its contents.
J. Frank Callaghan, President and CEO