Ann: Cleansing Prospectus, page-3

$45, WTF??

I'm guessing this is some sort of bu$h1t 'regulatory manoeuvre' so the 'recent' insto-placements can essentially be 'dumped' into the market..???

"...For an offer of 1,000 Shares at an issue price of $0.045 (4.5 cents) per Share to raise $45 (before expenses) (Offer). This Prospectus has been prepared primarily for the purpose of section 708A(11) of the Corporations Act to remove any trading restrictions on the sale of Shares issued by the Company prior to the Closing Date. IMPORTANT INFORMATION This is an important document that should be read in its entirety. If you do not understand it, you should consult your professional advisers without delay. The Shares offered by this Prospectus should be considered highly speculative.

3. DETAILS OF THE OFFER
3.1 The Offer

Pursuant to this Prospectus, the Company invites investors identified by the Directors to apply for 1,000 Shares at an issue price of $0.045 cents per Share, to raise $45 (before expenses). The Offer will only be extended to specific parties on invitation from the Directors. Application Forms will only be provided by the Company to these parties. The Shares offered under this Prospectus will rank equally with the existing Shares on issue. A summary of the material rights and liabilities attaching to the Shares is set out in Section 5.

3.4 Purpose of the Offer

The primary purpose of this Prospectus is to remove any trading restrictions that may have attached to Shares issued by the Company prior to the Closing Date (including prior to the date of this Prospectus)..."

We're dealing some very shady characters here I suspect, I found it quite psychologically 'interesting' that our CEO/MD responded/replied (tweet'd) to whomever it was so aggressively when challenged about MCT's underlying needs for cash and/or a JV...

Not sure whether to be happy there's some $$$ coming in via a placement,  or  whether the TSX-listing is just going to end up like some 'ponzi-scheme' (look @ ASX:EGO), very similar approach and tactics employed, I've essentially lost ~$20k over there...

Happy to be proven wrong obviously, but I now have a new level of concern regarding MCT's approach and apparent 'disdain' for existing MCT holders...

Pretty sure it was the 'p00ft3r punt3rs' Tweet from MG that got me thinking, baited or otherwise...

Good luck peeps, we're going to need it...

ML