This latest cash raise is a good thing for the company given the circumstances. We're not selling the company at a discount to the current market price. (A placement would be done at 1.0 cent, 20% discount) or having the uncertainty of a capital raise approaching existing shareholders (which again has to be at a discount), drives down the SP to the raise price in the short term and everyone forgets, there's a broker involved in the process who wants a cut.
It's also keeping it in house with someone prepared to put more skin in the game. Great!
MAY Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
