Although it's only a short-term solution, I assume it shows confidence of these major shareholders in the future of the company.
I particularly like that the warrants are set at 35c per share (while quite low, it shouldn't be driving the SP lower from here). The 8% interest seems to be justifiable.
Can someone explain the 1.5% facility fee? How does this work, does the company receive 8M-1.5% to start with?
Ultimately, the question is... what's going to happen between now and the equity raising in October?
Looking at this interim funding..... I assume that the SP is likely to go up from here.
$8m funding
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