Initial thoughts are that I'm particularly happy with the restructure terms. And at 0.08c.
We are proposing that Kollakorn:
- Does a 10:1 share consolidation to 0.08 per share.
- Settle Convertible Notes, Directors Loans and Related Party fees in shares prior to the Transaction or cash post Transaction.
- Issue shares valued at $2.5 million to acquire Isity Global also at 0.08 per share post consolidation. Isity is currently valued at $10 million, so the remaining share balance will be held in escrow and released after reaching 3 and 5-year performance targets.
- Completes a Capital Raising of $1.5 million at 0.008 pre consolidation (187,500,000 shares) into Kollakorn to help with this transaction (this has already been identified).
KKL Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
