We don't know the details of the funding. Maybe the farm out deal couldn't be signed until HHR had committed funds for their side of the development?
And if you think about it, the deal would have highlighted that HHR did need funding and that a CR was imminent, so you can't just pretend the market would look only at the farm out deal and not consider the need for the raise.
Not sure the price would have jumped to 10c for a raise to be done at 8c in that scenario.
Ann: Transformational Farm-Out Agreement Executed, page-26
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