Another 3,377,484 shares issued presumably to Lind. Note the price is not disclosed. Why is that? Are these shares issued to Lind? You know, the ones they can get at 9.25% discount to the market.
"Lind can convert the Convertible Security into Shares after an initial lock-up period at a price being the lower of A$0.055 per Share or 92.5% of three consecutive daily VWAPs during a specified period of time (‘Conversion Price’). Initially, Lind will be restricted to converting a maximum of A$150,000 in any month, with this later increasing to A$300,000 in any month." https://lithium-au.com/wp-content/uploads/2016/11/16122019-Lithium-Australia-secures-A6.3m-funding-agreement.pdf
Let's assume a VWAP of about 4.8c. 3,377,484 shares @ 4.8c = $162,119.
These shares are being issued approx every fortnight. Works out to be circa $300,000/mth
At least there is only another 6 months of this
LIT Price at posting:
4.6¢ Sentiment: Sell Disclosure: Not Held
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