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altair gold inc (AVX) Snapshot

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03/7/14 - C$0.09
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altair gold inc (AVX) Details

Altair Gold Inc. engages in the development and exploration of gold in Canada. Its projects include the Kena property that comprises 152 claims units covering 7,609 hectares located south of the Nelson town in southeastern British Columbia; and the Lobstick property, which consists of 32 claims units covering 512 hectares in northwestern Ontario. The company was formerly known as Altair Ventures Incorporated and changed its name to Altair Gold Inc. in September 2012. Altair Gold Inc. was incorporated in 2005 and is headquartered in Vancouver, Canada.

Founded in 2005

altair gold inc (AVX) Top Compensated Officers

President and Director
Total Annual Compensation: C$162.0K
Chief Financial Officer and Corporate Secreta...
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

altair gold inc (AVX) Key Developments

Altair Gold Incorporated Announces Executive Changes

Altair Gold Incorporated announced that Robert Archer, the Chairman and co-founding Director is resigning as a Director. The company is to appoint Zahir Dhanani as a Director of the company. Dhanani will also assume the positions of Chairman and CEO of the company.

Altair Gold Inc. Auditor Raises 'Going Concern' Doubt

Altair Gold Inc. filed its Annual on Jul 29, 2014 for the period ending Mar 31, 2014. In this report its auditor, KPMG LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Altair Gold Inc. Closes $300,000 METC Financing

Altair Gold Inc. announce that it has entered into a loan agreement, general security agreement and promissory note with Espresso Capital Tax Credit II Fund Limited Partnership ("Espresso) for mineral exploration tax credit bridge financing in the principal amount of $300,000 (the "Loan"). Interest will be charged on the outstanding principal amount of the Loan at a rate of 1.59% per month (or 20.84% per annum) calculated and compounded monthly. The Loan is secured by a general security agreement on Altair's assets. In connection with the Loan, Altair agreed to pay cash fees to an arms' length party equal to 4% of the principal amount of the Loan, and a commitment fee to Espresso of 4%. The Loan proceeds will be applied to the Company's cash payment obligations under its Kena Property option agreement with Sultan Minerals Inc. and for working capital needs. The Loan will be repaid from the anticipated METC refund of $413,455.


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