To date the company has closed on $405,000 of the previously announced $600,000 financing. With the funds raised to date, Iskander has purchased an additional 40% working interest in our Georgian Satskhenisi permit, paid the first 6 months of the annual permit fees for our 2 permits in Bulgaria and is in the process of paying the Exploration Permit 5 year extension fee for one of our permits in Ukraine and have brought current certain expenses that were owing for operating costs in Georgia and general and administrative items.
Email to shareholders February 2016
