Ann: Magnis enters into Standby Equity Facility, page-15

Putting myself in MNS shoes; it’s likely the only viable option for temporary working capital without the need for cap raise at a large discount which would push the SP much lower and further reduce shareholder confidence.

The other interesting part is that I doubt Evolution Capital would put up $6M with small margin of safety if they knew MNS would fail in the short term.

My guess is that this is simply a top up and/or used as a buffer until milestone objectives are achieved this quarter and things turn around.

I’ve had another look through their announcements for this year and there is a lot of moving parts and all converging at once; I hope they can pull this off.

Risk is high as delays have cost them working capital and massively effected sentiment which has accelerated their decline.