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581-600 of 10377
OFFTAKE CONTRACT AND NAL SHARE SUBSCRIPTION
On 9 June 2017, a wholly-owned subsidiary of the Company, BCL, entered into the Offtake
Contract with NAL, pursuant to which, BCL will receive a high grade lithium concentrate of
80% of the total production of the La Corne Lithium Mine Project in Quebec, Canada. The
Offtake Contract is for a period of three years, after which BCL may extend such right of
purchase to the same for subsequent five years. The purchasing price will be determined by
both parties based on market conditions.
BCL undertakes to subscribe for no more than approximately 10% stake in NAL (upon
completion of the NAL Listing) for a total Consideration of CAD25,000,000 (equivalent to
approximately HK$145,000,000).
LISTING RULES IMPLICATIONS
As the applicable percentage ratios in respect of the NAL Share Subscription exceed 5% but less
than 25%, the NAL Share Subscription constitutes a discloseable transaction for the Company
and accordingly, is subject to the reporting and announcement requirements under Chapter 14 of
the Listing Rules.
The Board is pleased to announce that on 9 June 2017, a wholly-owned subsidiary of the
Company, BCL, entered into a lithium concentrate Offtake Contract with NAL.
OFFTAKE CONTRACT
Date: 9 June 2017
Sellers: North American Lithium Inc.
Buyer: Burwill Commodity Limited, a wholly-owned subsidiary of the Company
As at the date of this announcement, to the best of the knowledge, information and belief of the
Board, having made all reasonable enquiries, NAL and its respective ultimate beneficial owners
are third parties, independent of the Company and its connected persons.
- 2 -
Pursuant to the Offtake Contract, BCL will receive a high grade lithium concentrate of 80% of
the total production from NAL of the La Corne Lithium Mine Project in Quebec, Canada, while
another 20% of the total production is reserved for sale to an European commodity trader. The
Offtake Contract is for a period of three years, after which BCL may extend such right of
purchase to the same for subsequent five years. The purchasing price will be determined by both
parties based on market conditions. The first shipment of lithium concentrate will start from
around the 3rd quarter, and till the end of 2017, BCL will receive approximately 32,000 dry tons
of lithium concentrate from the project. Subsequently, BCL will receive the amount not less
than 80,000 dry tons per year.
NAL Share Subscription
Pursuant to the Offtake Contract, BCL has promised to pay the Consideration in a total of
CAD25,000,000 for the subscription of approximately a total of 6,000,000 common shares of
NAL (representing approximately no more than 10% of the enlarged share capital of NAL upon
completion of the NAL Listing). BCL shall pay the Consideration to NAL on or before 10 July
2017. If NAL Listing fails to complete by 30 September 2017, the CAD10,000,000 payment by
BCL will be for the subscription of certain common shares of NAL and the CAD15,000,000
payment by BCL will become an advance payment made by BCL to NAL for the purchase of
products under the Offtake Contract and will be repaid by NAL to BCL by way of set-off
against the purchase price for the products in accordance with the Offtake Contract.
The payment for the Consideration for the NAL Share Subscription will be funded by internal
resources of the Group.
Atom99 ( Date: 04-Oct-2017 12:28) Posted:
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Maybe not AMAL.But Shares placement from NAL in Canada.
Atom99 ( Date: 04-Oct-2017 12:22) Posted:
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Looks like AMAL is going raise cash by placement of shares to BurwillHL? IMO.
DYOR and DYODD
DYOR and DYODD
Atom99 ( Date: 04-Oct-2017 12:19) Posted:
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Ha... Beat me if someone tell me maybe not AM, maybe other company. Ha...
I really have nothing to say already.
I really have nothing to say already.
Atom99 ( Date: 04-Oct-2017 12:19) Posted:
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INSIDE INFORMATION
This announcement is made by Burwill Holdings Limited (the &ldquo Company&rdquo ) pursuant to Rule
13.09 of The Rules Governing the Listing of Securities on The Stock Exchange of Hong
Kong Limited (the &ldquo Listing Rules&rdquo ) and the Inside Information Provisions (as defined under
the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the
Laws of Hong Kong).
The Company is negotiating with an overseas listed company for subscription of its new
shares by way of placement (the &ldquo Transaction&rdquo ).
Further announcement will be made by the Company when there is any new development
with regard to the Transaction.
By Order of the Board
Burwill Holdings Limited
CHAN Shing
Chairman
Hong Kong, 4 October 2017
amlithiumpower ( Date: 04-Oct-2017 12:19) Posted:
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http://burwill.todayir.com/attachment/2017100412170100002937747_en.pdf
They are negotiating with overseas company for new placement. OMG could it be AM?
They are negotiating with overseas company for new placement. OMG could it be AM?
Then u DYOR and DYODD
sheerluck ( Date: 04-Oct-2017 11:24) Posted:
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Opinion does not need proof but the subject of your opinion need to have some. So is it alright if someone started saying T& S is going to run away with all AMAL cash and discuss excessively on it as if it were true? Based on someone meaning of " opinion" , it is alright.
giantgrouper47 ( Date: 04-Oct-2017 11:14) Posted:
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Burwill is having a good run today. Now 31cts n reach a high of 33cts
Chill guys. Everyone trades and invest differently and hence it would be good to consider aspects of info shared that is useful for your particular trades.
The only factual regarding SP performance of both Burwill and Tanawa is both of them are up in term of price and volume traded. Although no announcements have formally been made, traders and investors alike are using these info to anticipate what would be the possible outcomes and reasons for AM halt and performance since when it had reverse from recent bottom at 21c. SP do not move for no reasons its always the insider (BB) who move it then we speculators (anticipating the info) participate in it and then the investors see the real info then jump in. Ha... So let' s be a little patience on this mid autumn festival and enjoy the tranquility before trading resumes.
The only factual regarding SP performance of both Burwill and Tanawa is both of them are up in term of price and volume traded. Although no announcements have formally been made, traders and investors alike are using these info to anticipate what would be the possible outcomes and reasons for AM halt and performance since when it had reverse from recent bottom at 21c. SP do not move for no reasons its always the insider (BB) who move it then we speculators (anticipating the info) participate in it and then the investors see the real info then jump in. Ha... So let' s be a little patience on this mid autumn festival and enjoy the tranquility before trading resumes.
Think positive. Opinions no need proof. It's a gut feeling
Atom99 ( Date: 04-Oct-2017 11:02) Posted:
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So please don' t always ask people to show proof when members here are stating an " opinion" . DoYou understand what an " Opinion" ? I will be insulting members intelligence here if they believe what I hv posted. I am in no duty to show proof to you and l believe you will DYOR nnd DODD.
lf cannot be on the same page...CANNOT CONNECT THEN DISCONNECT.
lf cannot be on the same page...CANNOT CONNECT THEN DISCONNECT.
Alvin2042 ( Date: 04-Oct-2017 10:45) Posted:
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If can show u the eggs then will be selling time. Buy on rumors sell on news.
sheerluck ( Date: 04-Oct-2017 10:40) Posted:
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I am only after some creditable sources of Burwill interest in AMAL and not on people opinion on somethign that has no basis. Counting chickens before they are hatched? Sorry there aren' teven any eggs in the first place. Show me some eggs first please.
Atom99 ( Date: 04-Oct-2017 10:17) Posted:
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Everyone in SJ are entitled to their own opinions.And I respect that as long as they don' t insult or belittle others.
You want to know whose opinion, please go look at the past posting.
Thank You.
You want to know whose opinion, please go look at the past posting.
Thank You.
sheerluck ( Date: 04-Oct-2017 10:09) Posted:
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I don' t think it will be the R& R report. Normally, AMAL trails behind TAW in all announcements regarding Baldhill even though they are the owners. The last time AMAL halt-> suspension,in the end, they only announced what TAW announced weeks ago.
I cannot rem who started this rumour about Burwill buying into AMAL. Where did it all started? Any announcement or news on these? Even those who are always screaming fundamental also daydream all over it.
I need to see some news or announcements. Where can I find them?
I cannot rem who started this rumour about Burwill buying into AMAL. Where did it all started? Any announcement or news on these? Even those who are always screaming fundamental also daydream all over it.
I need to see some news or announcements. Where can I find them?
Atom99 ( Date: 04-Oct-2017 08:55) Posted:
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Dont really wish to go into suspension. Hate the feeling. Hope they can catch the boat n ride on the tide...
Steady28 ( Date: 04-Oct-2017 10:06) Posted:
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I posted too soon. Now $0.325, +14%. What is happening?
Steady28 ( Date: 04-Oct-2017 10:06) Posted:
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0.32 liao. All the stars are aligned. Taw burwill amal. Steady swee swee.
furnaces ( Date: 04-Oct-2017 10:00) Posted:
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Burwill Holdings just chionged to a new 52 week high.
$0.315, +0.03 (10.5%)
$0.315, +0.03 (10.5%)