Ann: Greenpower Successful Capital Raising To Advance Gold Mines, page-5

Looking deeper into GPP's history, when they listed on the ASX in 2008, the IPO share price was $0.20c and has never been over that and has been in a decline since. The only spark of interest was when they company acquired the Moribisi Project, to which it was then ramped (the same ramp crew are still going around on other shares) plus pages and pages of colourful pictures posted by probably one of the biggest rampers I have witnessed on Hot Copper, the same person at one point was employed by GPP and continued to post..........

Lead by King, they have contributed nothing to share holders value in that time and as posted earlier, just acquire/sell to keep their lifestyle supported with shareholders money.

Again, there has been no update or information on the OHD project, you all remember that one right?
Disruptive technology that was going to take the wheat farming/tomato growers/canola and palm oil worlds by storm, not to mention the "vehicle" for seed investors, personally I think that management have been snorting the fertiliser that they excrete from their mouths .........

Some interesting points from this announcement:
The company has placed more emphasis on the so called supportive exiting share holders? and "important new strategic institutional investors"? rather than the core owners of GPP offering them a far better "placement" than those that will take up on the Rights Issue.
The company then has the audacity to go on and say that existing share holders get the opportunity to participate in the capital raising on the same terms?
Really, I must be seriously crap at maths.....
EXAMPLE:
McLean/King et al, I hope you are all reading this.
How dare you infer that your share holders are dumb asses and cannot do the maths!!!!
900, 000, 000 shares to be issued at $0.001c per share in two tranches.
Tranche 1: 300 million shares PLUS 1 unlisted option per share (300 million)
Tranche 2: 600 million shares PLUS 1 unlisted option per share (600 million)
Total of 900 million ordinary shares plus and equal amount of 900 million unlisted options

Us ordinary share holders (example only for the exercise) can participate "POST" consolidation.
Let's say that I own 1 million shares, post consolidation I now own 100,000 shares, the 1 - 5 Rights Issue means that I can purchase 20,000 shares and I get 20,000 options VERSUS (remember the company did say in its announcement on the same terms) If I participated in the Rights Issue at pre-consolidation numbers I would be entitled to 200,000 PLUS 200,000 options, the cash consideration remains the same (pre) 200,000 shares @$0.001 = $200.00 versus (post) 20,000 @ $0.01 = $200.00 but (same terms??) (pre) I would get 200,000 options versus (post) 20,000 options, a deficit of 180,000 options....... I guess to some that would look like the same terms, I need new glasses.

Who is suppose to proof read these announcements, table 3 column 2 (listed options) will be expired before consolidation.

Tin tacks:
The company sold us an acquisition (ION Minerals) of battery metals for the EV revolution but in just over 14 months they have shifted focus to gold and the bush?
The flagship of the acquisition was the Lincoln Springs Cobalt project, (EPM 26411 & EPM 2676) to which they have terminated the agreement to acquire (20th June 2019) but prior to the termination,
GPP had done their due diligence
Announcement after announcement of high grade intercepts at Lincoln Springs
from McLean "ION Minerals has worked hard to secure a portfolio of some of the best high-grade battery mineral projects."
from King "The addition of battery mineral project with a clear path to commercialisation in addition to experienced management is an exciting opportunity for GPP"
Clear path to commercialisation
Experienced Management? - one has nicked off back to England, the other (McClean) fail.......

One can only assume now that the flagship component of the ION Minerals acquisition being termination, then surely the agreement between GPP and ION needs to be amended?

Hasn't slipped passed that Xcel Capital (Bulesco) are the lead managers and will make some money in fees AGAIN
Hasn't slipped passed that the confidence of GPP's management that the current share holders (us mugs) may not participate in the rights issue as they haven't sort an under writing agreement for the rights issue.

@maybee
Maybe some interesting reading for you ..... bit of history
https://hotcopper.com.au/threads/management.4124086/?post_id=32329525
https://hotcopper.com.au/threads/management.4124086/page-5?post_id=32365792
https://hotcopper.com.au/threads/management.4124086/page-78?post_id=32455015
https://hotcopper.com.au/threads/management.4124086/page-92?post_id=32679937
https://hotcopper.com.au/threads/management.4124086/page-151?post_id=32943592
https://hotcopper.com.au/threads/management.4124086/page-158?post_id=33260027

cheers