Examples of Caza in a sentence
Pursuant to the Plan of Arrangement which closed in June 2008, the property was transferred to Caza (Note 5).
Pursuant to the Plan of Arrangement which closed in June 2008, the property was transferred to Caza (Note 13).
On June 25, 2008, the Company proceeded to close the Plan of Arrangement (the “Arrangement”) with Caza whereby approximately 83% of the Company’s interest in Caza was distributed to the shareholders of the Company.
The property interests which were transferred from the Company to Caza include Los Arrastres, Santiago and Santiago Fraction properties.
The Arrangement was accounted for by the Company at the time of the transaction by showing an investment in Caza of $436,501 representing the value of the 14,346,527 common shares received.
The distribution of 11,950,577 Caza common shares to the Company’s shareholders was accounted for as a reduction to the investment in Caza in the amount of $363,298 with a corresponding increase in deficit.
The loans are repayable on demand and bear an interest rate of 9% per annum and are secured by the Company’s shareholdings in Caza at CAD$0.25 per share.
Under the Arrangement, the Company transferred all its interest in its wholly-owned Mexican subsidiary which holds all the rights to the Mexican gold exploration properties (Note 6(d)) to Caza in return for 14,346,527 shares of Caza, of which the Company distributed 11,950,577 Caza shares by way of a dividend in kind to the Company’s shareholders on the basis of one share of Caza for every six shares of the Company held by shareholders as of the dividend record date.
In December 2007, the Company’s previous wholly-owned subsidiary, Caza, received proceeds of CAD$300,000 in demand loans of which CAD$180,000 were from directors and officers of the Company.
Yount Sr. Vice President Coto De Caza, CA Gregory Heffington 1st Vice President Ft. Collins, CO Thomas Rowley 1st Vice President Oakbrook Terrace, IL Andrew J.