Hi all. @HeliosUK Nice one mate. For anyone like you and I, that have our money in here and do our research to warrant the financial commitment we make, it is necessary to do. This is instead of the previous $10m loan facility that they had. The reasons this is being done are a few critical points that need to be understood. The BOD did not want $10m (previous loan facility) and didn't like the terms of the loan. There would be payments from day dot with interest rates of commercial/risk criteria, along with a principle to be paid back.
This way, yes they pay fees, but the principle is part of the company in which, unless they contribute, they also suffer dilution. I for one have put up my hand for a decent amount and look forward to a brighter future now that these funds are locked in. We all knew this was coming. I thank my lucky stars that I had this opportunity. I now have a very decent parcel but I also have a decent smile on my face, not only for my added participation but also, now we have our funds to go into production in January. No stopping us now. Haha.
Kind regards, Wack
VTX Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
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