Some hang over here until August. Shares at 14 to be issued.
News is expected any time which could take some pressure off.
The 10,714,285 issued will be on the market 20/07
The Company has undertaken a share placement with firm commitments for 10,714,285 shares, raising $1.5 million at an issue price of $0.14 per share (the Placement) to institutional and sophisticated investors.
The issue price for the Placement represents a 12.5% discount to the last closing price on ASX on 7 July 2023.
The Lead Manager of the Placement was GBA Capital Pty Ltd, who will receive a capital raising fee of 6% for the Placement.
This lot must be issued in Aug?
The Company will issue 5.2 million shares under LR7.1 and 3.4 million shares under LR7.1A in tranche one and 2.114 million shares in trance two, subject to shareholder approval at a general meeting to be held in late-August 2023.
IMO
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