Ann: Metals Australia Completes Placement, page-2

IF they approached us for investment in MLS as it states in the announcement, why did we give them 2 free options per share ????

Subject to shareholder approval, subscribers under the Placement will also be granted two (2) free attaching options for each share subscribed for under the Placement. The options will have an exercise price of $0.0035 per option and an expiry dated of 1 June 2022. This will result in the issue of 470,800,000 options, and subject to ASX approval, the Company will apply for quotation of the options.

I also find it offensive that the strike price is not even at least half a cent or one cent - screams to me the BoD aren't that optimistic about share price in the future ??

Very disappointing announcement and also makes me wonder if the BoD beleive the assay results won't be as good as they first thought, otherwise why give so much away so close to the results being due ??