Ann: Antilles Gold to Raise $2.0 million for Activities in Cuba, page-22

Not happy with the CR at 3.3 but this is the mainly due to shareholder losing faith in AAU, the failure to secure offtake agreements and numerous delays from internal factors and external factors (war and cyclone etc.).

The convertible note was more than fair in my opinion. 8% interest is cheap in the current market.

15% discount to 15 days VWAP is fairly standard too and I have only experienced in one instance where this condition decimated SP. If you believe Brain then this term is of no concern.

I was a long term holder of AHQ which needed a cash injection and sought fund from one of the largest shareholder Regal via a similar con note instead of CR or SPP. Long story short Regal been one of largest SH sold down its holdings and caused avalanche and SP of AHQ dropped from 50 cents to 10 cents in about 3 days (MC dropped from $250m to $30m). The shares that Regal sold in 40c, 30c and 20c were able to brought back at 10c. When AHQ finally came to SH the CR was done at 5c...