Sorry guys but some have not been listening to the evidence which kpt3891 continually denied was true. This is what Biotron always do. Massive discounts on CR. Only the other day I provided a list for kpt3891 of the massive discounts on the previous few capital raisings. This one is actually slightly smaller than the average over recent years.
So the 30 day VWAP is approx 4.7c. The new stock will be issued at 3c which is approx 36% discount to 30 day VWAP.
220 million new securities to be issued which is a 31% increase.
They don't seem to have decided if it will be renouncable or not which seems odd at this point. I suggest that might have been the case when they filled in that form for the ASX but by now they must have decided.
The $4.2mil is approx 12 months of operating costs based on their disclosed burn rate. Thats the good news and what we needed to see.
Ann: Proposed issue of securities - BIT, page-22
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