PlacementIn addition to the above, prior to completion of the transaction, Cyclone also proposes to undertake a capital raising of no less than $1,000,000, with the potential for oversubscriptions up to $2,000,000 at an issue price of $0.0025 per share (Placement Shares) (Placement). The Placement Shares will be issued subject to shareholder approval. Funds raised from the Placement will be applied toward initial work on the Project, costs of the transaction and general working capital.
Ann: CLE acquires 100% largest undeveloped magnetite iron ore dep, page-24
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