I dont understand why they would need this now when they still have 10m in funds and should have around 60m in cash receipts this year which puts them at CF+.
My only guess is they are looking to expand rapidly and invest heavily in R&D. The timing of this announcement 2 days before their worldwide presentation seems to indicate this.
The positive of this is that strike price of $0.20c is about %50 higher to current price.