Ann: Private Placement to major Shareholder to Raise $2.025M, page-10

For those that don't know I control Parle Investment,
The recent political changes in WA and the increasing interest uranium has raised the possibility of some bigger company becoming interested in CXU. The concern I have is at this point no one can clearly say what the pound of uranium are because there is still a lot of exploration work to be done. This cost money and if a CR was done in the normal way the price would need to be discounted and that wouldn't be in the best for existing shareholder. I need to make a point worth noting, we are sitting on 67 m options and we could have exercised those for around $1m. Instead we took the harder choice of purchasing 45 m share for $ 2m so the company had more funds. In addition we can convert the options in the future to give CXU a further $1m if needed provided we act with in the 20% rule.

We are here to support Jono and the team as they are doing a great job. They will build CXU into a major Australian Uranium producer in the future.
Tony