Hmmm. This seems a fairly complex funding arrangement that would have taken some time to reach agreement on. While it did not perhaps require announcement to the market before finalisation, it is quite the coincidence that this was announced hot on the heels of the recent placement/SPP. Good to have the funding, but not a stretch to ponder if shareholders were in a position to make a fully informed decision, particular given the just now divulged termination of the 9 June 22 funding agreement.
Hard to determine how much money we will ultimately get beyond the initial 3.1m of which we immediately hand back $93000 as a "commitment fee". Seriously?
I am a fan of what the company is trying to achieve, but the aroma around it is giving Limburger a run for its money.
No sentiment declared as too numb from the losses to feel anything, and I can't really tell if this new arrangement is a net positive or will just keep the lights on a little longer.
CHM Price at posting:
4.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)