Ann: FYI Secures A$80M Funding, Delivers DFS & Upgrades Reserves, page-41

Yep, and in today’s announcement it is in black and white.

Material terms of the Equity Commitment:
Subject to the terms of the Capital Commitment agreement, the Company may choose to, on one or more occasions within the three year period of the agreement, subject to conditions precedent, draw down on the facility by giving GEM 15 trading days’ notice to subscribe for shares in the Company. The number of shares which FYI may draw down under a notice is capped at 1,000% of the average daily number of FYI shares traded on ASX during the 15 trading days prior to that draw down notice, subject to adjustments. If the Company issues a draw down notice, the subscription price of the shares to be issued to GEM (or its nominees) will be 90% of the higher of:
• the average closing bid price of FYI shares as quoted by ASX over the pricing period, being the 15 consecutive trading days after FYI gives the draw down notice to GEM (subject to certain adjustments); or
• a fixed floor price nominated by the Company in its draw down notice.
The issue of shares to GEM pursuant to a draw down notice will be conditional upon obtaining any requisite shareholder approval (if there is insufficient placement capacity under the Listing Rules when FYI issues a draw down notice). The Company has not yet agreed to issue any such shares to GEM. The Company has given to GEM warranties, representations and indemnities that are customary for agreements of this type.
The Company will pay a fee of 2% of the Equity Commitment within 18 months (exclusive of GST) to GEM in connection with the facility. The Company may choose to pay part or all of such fee in shares calculated at 95% of the value weighted average price of FYI shares during the 15 consecutive trading days prior to payment. In addition, FYI will issue to GEM or its nominee 46.7 million options with an exercise price of 15 cents each expiring 5 March 2024. 23 million of the options will be issued immediately under FYI’s ASX Listing Rule 7.1 placement capacity with the balance to be issued following shareholder approval which will be sought at a General Meeting.