Ann: Verus secures AUD$10 million equity drawdown, page-53

re: Ann: Verus secures AUD$10 million equity ... Anuj25

I assume you understand what VWAP means in regard to a equities share price.. "Daily" indicates timeframe of vwap.

Therefore if vil make a request for funds on monday morning, then the prior weeks(5 trading days) vwap`s are brought into play. eg mon VWAP 9c, tues 9.8c, wed 9.2c, thurs 8.7c, fri 10cents.. Well truestone would issue vil finance and recieve from vil stock issues at 85% of the lowest VWAP for the prior 5 trading days. In this case, this being 85% of thurs VWAP of 8.7 cents.

The drawdown facility is open for 12 months only. Anytime in this 12 month period vil can sell stock to truestone in exchange for finance, based on the above paragraph. I am assuming truestone will receive stock when drawdown is accessed.

That sound about right peoples!
hope it helps

bldr