Ann: AVZ Secures US$ 20 Million Funding Facility, page-73

Well actually Avz has not secured a usd 20 m funding facility at all

have to call them out



despite the assertions in the announcements that  the signing of this term sheet basically demonstrates to Avz opponents (seeming delaying things with the hope that Avz run out of money ) that they are now ready to go all the way as they have signed this term sheet , nothing is more misleading ino-

as they finish the announcement it is little wonder they state their preference of course is a negotiated settlement blah blah

Avz merely entered into a binding term sheet only - They haven’t secured anything whatsoever yet

They gave exclusivity to the potential funder to negotiate with Avz by an end date subject to their due diligence by the end of March 2024- nothing is guaranteed other than outs for the lender and costs to Avz if due diligence fails or final terms aren’t agreed and signed by march 2024

not only has Avz locked in self into a position  to only negotiate with one party - the company is at the end of the road in terms of its legal fights— decisions at the icc and is is iscid are it— they can’t lose there( sure they keep saying they have good case and are confident) but say a decision doesn’t go in our  favour , we are now appealing to some other court

we know from resent announcements lots of things are due and expected from both icc and iscid before March 31 2024

so this funder has now locked in Avz - has the chance to wait for all these decisions up until March 2024 as part of due diligence and if they decide it’s not worth funding- Avz pays

if they are the only funder allowed to negotiate a funding agreement and say ok we want these terms , Avz can’t shop it  like a home loan and say, oh I get better terms down the road come on sharpen your pencil - the other side simply says after seeing what could or may come these decisions - these are our terms- and if Avz can’t agree or stomach them and it’s not signed by end March , Avz have to pay them as 1 m

There is no downside to a funder with this much time who is given total exclusivity not to enter into such a binding term sheet imo - happy days-

they get to see everything including the coming decisions and can pull the pin for due diligence reasons and get still get paid -

Avz is desperate for funding clearly and if they can’t agree on terms with Locke as Avz needs the funding ,as it already states this funding now secured they way to fight to the end ( which it doesn’t cause it’s not negotiated and finalised yet) then  Avz pretty much have to accept as no one else is allowed to tender

end of the day Avz declaration that it secured a 20 m funding facility is totally false- it merely entered into a binding term sheet on and exclusive basis to negotiate a future agreement which needs to be signed subject to the lenders due diligence by a due date otherwise Avz pays

with no minimum terms outlined like max interest rate or max commission payable on any awards for damages or minimum term Avz is in weak spot to negotiate future terms if it does want to take it all the way .

If it says it can now demonstrate it can go all the way with this deal, then if it falls over due to due diligence or non agreed terms it obviously can’t go all the way

Imo this indicates how desperate Avz has become- to make out it has secured funding when it hasn’t negotiated anything final at all , given away exclusively and doesn’t even know Min basic terms

little wonder again why they drop their preferred result would be a negotiated settlement at the end of the announcement .

no real downside for lender as they have exclusivity, and have plenty of time for due diligence - have many outs and still get paid  at this point in time as no formal agreement or negotiation has even started if they decide they don’t like what they see or if Avz won’t give them the payday they want

other side won’t be concerned imo- claims of securing funding to fight all the way at this current time is totally false and it’s not guaranteed

Crazy terms imo locking themselves into this long winded time to negotiate a final agreement

little wonder if mmga claims are correct that Avz largest shareholder and cath are indicating they will vote against incumbents recommendations

big bluff announcement with many holes in it- can’t see the “ opponents” being too concerned at this stage- signing and agreement to negotiate exclusively another agreement in the future which exposes Avz to further costs is not as they state or imply securing a  usd 20 m funding facility

if it does fall over, given what they have said about Locke, no one else is going to fund-let’s say  the big funder with international reputation and skills can’t agree to terms of pulls out for due diligence reason —-  that sends a pretty big signal to anyone else and suggest Avz would then be toast

a lot of risk taken on board making this announcement and entering into such terms imo - it better come off or Avz can’t go all the way and they , by their own statements in this announcement  will run out of funds- and if this highly regarded big time legal funder says after due diligence no- forget the payment due- who else would want to touch it after an exclusive part pulls out- that’s due diligence enough for the next guy I would suggest

so much for Avz dismissing media speculation and labelling it as meritless back in may 2022, look at where the leaders of Avz have arrived at- making crazy claims it’s secured funding when it’s essentially made an exclusive application

poor result

and big time,  tough , we are secured and ready to fight to the end signalling to the other side making this announcement  is laughable at best this current time