regarding share placement at 16 cents

hello fellow svl holders can i pose a question here
regarding the $18mil cr at 16 cents and the general meeting , regarding required approval of share placement at 16 cents raising 18 $mil at the general meeting which falls after the ipc decision !! if im not mistaken , and if the shares have to be approved by share holders
buy then hopefully with a positive ipc decision the shares will be at a much higher price maybe if silver price climbs also , why then would its share holders approve a cr at 16cents ??
it does seem like a bad decision and poorly timed

imho ??