If David Greenwood the CEO of GRL worked at Hartleys and now we are paying them $210k (6%) and the 3M options in the current strong climate for gold then this capital raise DOES NOT pass the smell test in my opinion. It is not a good deal for current shareholders.
So GRL had a capital raise it didnt need yet, at a terrible price with a large chunk of free options to the broker.
The new shares on issue will now be around 83 million and Hartleys with their 3m options @ 40c will have an option on nearly 5% of the company for free.
This is also over 15% of the capital of the company so I guess it needs a shareholder meeting ? Anyone knowledgeable care to comment on this ?
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