A great deal IMO; definitely surprised me and hopefully will excite Mr Market too!
+ves:
- 12mil cash
- institutional investors
- similar price as OB's conversion i.e. equivalent to how we would've been very happy happy if all OB's were converted
- no free options attached
- new floor price of 1c, probably justifies all those 10mil buys at 1c and 1.1c
-ves
- Extra 1bil shares, taking us to 3.8bil shares, and the associated dilution
- that's the only one I could think of off the top of my head!!
A much deserved re-rate incoming?
Ann: $10M Capital Raising to Advance Nickel Sulphide Exploration, page-7
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