Ann: Institutional Placement to Underwrite Growth Strategy, page-32

Hi BlackBeak.

I think today's shares were free, as part of the service agreement conditions.

I guess once all the fees and other payments are completed the issue price will be closer to 25c.

I would have much preferred if FGR would update its shareholders on its numerous sales agreements to encourage its loyal shareholders to exercise their options.

Worst case organised someone to underwrite the options, or convert some of managements. By memory WG has around $2mil worth. I cannot see him converting them all.