Haven't seen the term sheet yet other than the news report. Currently 595m shares on issue. With a placement capacity of 15% - assuming they use it in full - that's only ~89m new shares at 4c, raising ~$3.5m. Will that coupled with the Ocean Partners funding be enough to get them to meaningful results, or will they seek shareholder approval to go over the capacity limit for a larger one off dilution this time? Longs will be hoping it's not back to the days of a new CR every quarter or two to pay the wage bill.
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