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Try this site http://www.grantthornton.ca/services/reorg/bankruptcy_and_insolvency/creditor_updates/edgeresources
Hi Smidsey, all but one of the links is broken. Guessing the jist of them was the receiver has disposed of them and somone has picked up a bargain and meanwhile Brad is on holiday in the Carebean?
I have found very recent updates of the Edge situation with the Courts and the Receiver. I will post them on separate posts. Check them out. http://www.grantthornton.ca/resources/creditor_updates/documents/Edge%20Resources%20Inc/First%20Report%20of%20the%20Receiver%20-%20Oct%205,%202016.pdf
Hi Smidsy, Have discovered that Hugh M Thomson is President & CEO of New North Resources. Regrettably I cannot progress this to produce an e-mail address, however he does have a LINKEDIN profile where he can be contacted. That's all from me as I do not subscribe to LINKEDIN. Regards and seasonal greetings
Hi Smidsy, Thanks for update, not looking very promising, would have thought we would be fairly profitable ATM and capable of servicing what was not too large a debt. Amazing when ever I have backed out of an investment for fear of banks pulling the rug forbearance is granted, when I hold rug pulled the second trouble is around. 6 months grace was all that was needed when oil was in the $30. Hey ho just hope Brad is not prospering ATM and having as tough a time as many of his investors.
Hi Confounded I did a little more digging a few days ago and came up with a company 'New North Resources Ltd.. a private but quite large company who appears to have bought out Edge on Sept. 12th. for $75million. And that is where the trail goes cold. The total debts of Edge, as far as I can gather is nothing like $75 mill. I intend to try and find out more, maybe an email to the Receiver or even send New North an email asking them direct. Please feel free to follow my findings and see what you come up with. It would put a little smile on my face to get something, no matter how little, from the Receiver.
Does anyone know anymore, is there any hope of salvaging anything at all? Any news on Brad? My fear is he will reappear and possibly even with our assets....
Thanks for posting the pdf belgrano. I've read about a quarter of it so far and am getting a bit bogged down - not really my field. I suppose the important questions are, will we own anything once the company is sold? And if not, will there be any payout to Edge shareholders? My expectation is that we will get nothing. Does anyone have any thoughts?
hopefully. looking like it may get sold on the cheap, with oil rising again. http://www.grantthornton.ca/resources/creditor_updates/documents/Edge%20Resources%20Inc/Receivership%20Order%20filed%20September%2012,%202016.pdf
Hi Smidsy, sorry for throwing the grenade and then disappearing (on holiday). Thanks for your research. Looks like little with be left for the shareholders from the sale, but like you say it is all a bit confusing like the final RNS where it is one property being sold. Maybe the remnants will be turned into somthing new and viable. It may be worth getting clarification from the receivers on this?
What do they mean by 'over the Saskatchewan assets' ? What about the other Assets. There were three areas. Eye Hill, Grand forks and Edmonton Sands. Were they all under the Saskatchewan assets or something else? I will check tomorrow.
Grant Thornton Ltd. has been appointed as Receiver over the Saskatchewan assets and is in the sales process, as of today. As of June 30th, we had completed the bid portion and we are now following up on offers that we received during the bid process. At this point in the process, Grant Thornton believes it is unlikely that there will be funds to distribute to the unsecured creditors and shareholders once the sale of assets has been completed. If there are funds to be distributed to the shareholders, Grant Thornton will be contacting shareholders to submit proofs of claim for investments made in Edge. Thanks, Taylor
Correct address. Previous site posted at 11.48am is wrong. http://www.grantthornton.ca/resources/creditor_updates/documents/Edge%20Resources%20Inc/1%20Notice%20%20Stmt%20of%20Receiver%20-%20EDGE%20-May%209,%202016.pdf
Confounded, I have just sent an email to Grant Thornton in Canada asking for information as to the current situation with Edge. As soon as I have an answer I will post it on here.
Confounded, just found the following info. The Receiver is Grant Thornton and his address is on the web page. Also is a full list of unsecured creditors who have a total of $812,486. 95 between them and on checking it appears that there are a couple of private individuals on there. I have also found Bradley Clifford Nichol (aged 45) full CV. At the time of the demise of the company it appeared that Brad was on 9 Boards in 4 different organisations across 5 different industries. I shall carry on digging. http://www.grantthornton.ca/resources/creditor_updates/documents/Edge%20Resources%20Inc/1%20Notice%20%20Stmt%20of%20Receiver%20-%20EDGE%20-May%2
Hi Confounded I generally look daily at the pink market to see if there has been any trading but so far without result. I also check the web site and the Sedar site but as yet no info. I did look at the other directors to see what they have been up to but nothing of any use. I had planned to check out the Receiver and ask him for an update but I cant find his contact number or address. If you have any of these if you post them on here I will get in touch with them. If Edge has been officially put into the hands of the Receiver there will be some info from the Receiver or at the very least there will be a creditors meeting to tell us what the state of the company is in from a financial situation. But I would like to find out what is happening before we get to that stage. Meanwhile I will keep looking. If I get anywhere I will post it on here or if this site is eventually closed you can find me on MAGP (Magnolia Petroleum)
Anyone heard anymore on these? Anyone going to Canada for there hols could be worth tracking the slippery Brad down and see how things are going for him. I suspect considerably better than his share holders that he led on right to the last few weeks.
Hi agrostis I have been looking at that site this morning and spotted the grey triangle sign. Check it out. Done some reading on NEX this morning and on Andrew Creech and the latest name of Arne Gulstene. Arne is suggesting we check out the Pink Markets in the US. I have done some research on that as well (OTC Pink Market) but must admit I have been occupied with two of my other companies MRS and WSG both have rocketed this morning.
Hi Smidsy, Please see the link below. http://www.otcmarkets.com/stock/EDGXF/quote
Wall Street Recommendations. Edge. EDGXF Buy (5) http://www.morningstar.com/stocks/pinx/edgxf/quote.html
It looks like we may be onto a winner if Edge is trading on the OTC Pink Market (whatever that is). I will look up Arne Gulstene it appears he works for NEX. Anyone care to check on the Pink Market? I wondered if the fires in Alberta had damaged any Wells of Edge and if not then the value of the equipment would have been increased. Maybe the Receiver has them pumping to make up the shortfall of oil production in Canada and if so there would be more interest in Edge. Just my humble opinion, I live in hope.