XPE Lounge, page-2152

Gallea, Please see below for who provided the CN Announcement 22/11/16

Q. The company sought to raise more money recently. Why?
The organisations that Xped are seeking to license our technology with, are very large multi‐national corporations, that expect to see a well‐capitalised Xped, which offers long term surety to reduce their own risk and exposure. I spoke with the Board requesting additional funds that were needed to grow the sales and marketing channels along with acquisition development costs to ensure the Company had necessary cash reserves going forward. It was decided to seek the additional capital and close the funding now given the interest in the Company rather than wait until the new year when market outlook could easily change and raising funds could prove to be difficult. Athan has done a great job raising the funding through a convertible note with global fund “L1 Capital Global Opportunities Master Fund” at a premium to the share price. This required the Company to enter a short period of suspension to finalise the agreements, which were being negotiated on the cusp of the US elections. In accepting the $10m facility, the Company decided to cancel the placement and chose to offer an SPP to existing shareholders with a 1:1 attaching option. The company values its shareholders and would rather offer a capital raise via an SPP to its existing shareholders rather than seek additional funds from new investors.