Ann: Antipa Raises $5.1M to Accelerate Exploration & Development, page-11

Looks like there are a few people around that have to whinge to stay alive. This CR process is widespread and acceptable for companies looking at a quick, low administration process to raise funds.
In this case I see it as a timing requirement: drilling about to start, limited time frame to have rigs on the ground due to weather etc. If they find something interesting, then they have the cash in the bank now to go ahead and define it further without rolling up the rigs until this time next year while they have to fool about with a retail issue.

There’s cash in the bank now to support a detailed drilling program. The difference between 1.9 and 2.4 will mean little when it’s hitting 56-60.

If you’re really filthy about it? Just buy them on market or move on to another asset class because penny explo stocks clearly aren’t for you if you don’t like a CR.