Ann: Renounceable Rights Issue to raise up to $15.8M, page-309

One thing I haven’t see discussed so far.

This raise has the shares selling for $.025, raising a total of $15.8m.
Management have also put their money wheif re there mouth is and partially underwritten the raise. They also plan to partake in the raise.

If the $15.8 million is raised, that means that there will then be half the amount of these shares created in Options. These options expire in 1 year.
To get these options exercised, MGT needs to be above 5c.
If it is, management have locked in another $15m give or take to contribute towards further funding. This will mean that from here on in, it is very unlikely that we will need a CR in the next year, and they will have a healthy amount for expenditure going forward,

This raise is pivotal for cementing the future of this company beyond this raise, and it also allows any current holder to be less diluted than if it was raised independently.