The original tranche 2 placement was 56,333,330 shares at $0.06 to raise $3,379,999.80. The new replacement raise is for 131,663,067 shares at $0.035 to raise $4,608,207.34.
So not only are they reprising the placement, they are also raising an additional $1.23M in capital. So the $10.5M raise is actually growing to 11.73M. Where in the announcement did it state they were raising additional capital? Where in the announcement did it explain why they require additional capital?
TBA Price at posting:
2.9¢ Sentiment: Hold Disclosure: Held