Found the answer.
The structure of the old deal was horrific. Sounds like it was structured so that it essentially ended up being in Lind’s interests to short the stock (or at least to have a lower LRS SP), because this would mean Lind would receive a larger number of shares in that monthly payment.
From what I can tell the current deal is structured to be in the favour of shareholders (or at least to not hurt them).
Yep
I do agree with you that $2.5m is short term. If the cash is used on both Brazil and Cloud 9 then I anticipate it will get us through to approx November this year.
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- Ann: $2.5m Option Funding Agreement to Advance Projects in Brazil
Ann: $2.5m Option Funding Agreement to Advance Projects in Brazil, page-52
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