more spin - mates rates

So,

QMC has arranged a placement of 28.2 million shares to existing shareholder Tulla Resources to raise $1,551,000.

The placement shares have been issued at 5.5 cents per share


But


An arrangement fee of $100,000 is payable to Tulla Resources
(Tulla get $100,000 for writing out a cheque = 6.5% of raised capital - not bad work if you can get it)


So why not call it like it is:

QMC has arranged a placement of 28.2 million shares to existing shareholder Tulla Resources to raise $1,451,000.

The placement shares have been issued at 5.145 cents per share with a 1 for free 10 cent option.


Interesting that such a large placement has been completed to Tulla just before the AGM. I guess that assists to reduce the effects of any protecst votes as Tulla will clearly support the status quo.



Newbie Thomas