The company tried to raise $2,900,000 but only managed to find $2,200,000. At least it’s sufficient to cover the legal action and cost of lawyers if John Goody is successful, so that’s positive.
I know some disagree about not disclosing the legal action in the placement term sheet but IMO that would have been the sensible decision. If there are new shareholders in this placement who aren’t aware of this legal action then what reaction will they have to being blindsided?
Ann: Placement Secures $2.2m to Advance Company Projects, page-3
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