On April 27th the Company agreed to settle part of the accounts payable to its Chairman, Bill McWilliam. As of February 28th 2017, the payable was $674,968 and has been accumulating for 95 months. The board has agreed to issue 2,159,000 Cascadero Copper shares to Mr. McWilliam at a value of $0.11 per share for a total reduction of the payable of $237,500.
The payable is unsecured and does not accrue interest. This will improve the Company’s balance sheet and working capital deficiency.
Cascadero Copper Corp
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