I'd also have preferred no options, EXCEPT;
I suspect a lot of large holders may have bought a lot of stock on the last cr at 7c, more at 6c, 5c and down to 4c. I know I did and I know many others that did the same (large and small holders).
Without the options, why would there be incentive for those shareholders to buy now at 7c when they either bought or had the opportunity to buy at down to 4c so recently?
I participated in this cr, but because I did significantly increase my holdings well below 7c already, I only participated because the options were offered. I suspect they would have had a hard time raising anything much at all without the options thrown in if most potential cr participants were already overweight from buying below 7c.
They needed some extra cash now so did what was needed to keep this project progressing.
The best thing for all shareholders is that the project moves forward and doesn't stall again. This is only a small raise and not too dilutive.
No existing shareholder likes cr's but they are needed from time to time. Now was one of those times.
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