Ann: Notice of Annual General Meeting/Proxy Form, page-5

I'd really like to understand why they are wanting to issue shares that would dilute our holding by 10% when from all indications they have:
1) Significant funding via Ramas approved
2) Likely upcoming funding from Wells Fargo
3) Significant cashflow coming in from the recently drilled wells as well as a bunch more wells to be drilled before the 2019 AGM.

Are these shares able to be purchased by all holders or just sophisticated investors so that they benefit while the rest of us wear the dilution cost? It seems to be expensive to me for a company that doesn't need urgent capital and who can simply delay a plan an extra month or two to amass an extra "$9.8mil"+ as per wabbit's estimates. Am I missing something?