4c per share? Even with an option?With their wonderful track...

4c per share? Even with an option?

With their wonderful track record? Manager to the offer rather than Underwriter?


Placement
Subject to shareholder approval, the Company has agreed to place 22,523,290 new fully paid ordinary shares (?Placement shares?) at a price of 4 cents per share. Each Placement Share subscribed for, will have a free attaching Company option ("Placement Option"), with an exercise price of $0.08 on or before 31 December 2015. The placement will raise $900,931 before costs.
The funds raised by the placement will provide working capital for the Company.
Alto Capital has agreed to act as "Manager to the Offer" for the placement.
Yours Faithfully
M Goldhirsch
Chairman