@ivantheironworker why does a capital raise have to be done at a 30% discount?
The issue price is 4c because the largest shareholder and Director are prepared to pay 4c to substantially increase their positions.
Worth noting that all shareholders ex the two subscribing for shares have to vote to approve the issuance. I dare say that if the placement was proposed at or below the current price it would fail to be approved - hence the premium being agreed to.
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