They're raising $1.5m at 2.5c, I think fully underwritten - half from a placement to sophisticated investors (under the 15% limit) and half from a rights issue - so 60 million shares and about a 27% dilution.
This is as good as it could possibly be, in my opinion, given the circumstances: moderate dilution, but enough that they shouldn't (fingers crossed) need another raising before the income streams get going.
capital raising
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