"20 April 2016 ASX Code: RER ACQUISITION OF ADDITIONAL INTEREST...

"20 April 2016 ASX Code: RER
ACQUISITION OF ADDITIONAL INTEREST IN KALONGWE AND FINANCING UPDATE Highlights - Regal executes key agreements for the acquisition of an additional interest in the Kalongwe copper/cobalt project in the Katanga Province, DRC, which will enable the project to move forward towards development; - Post completion, Regal will be the majority owner of Kalongwe holding 70% with GICC 25% and DRC Government 5%; - Acquisition to be funded through a placement of approximately US$5.3 million and the issue of approximately US$2.8 million worth of shares; - Additional bridge funding for A$1.1 million has been secured to fund Regal through to completion of the acquisition; - Existing convertible loan and bridge funding to be automatically converted to shares; - Proposed rights issue of approximately US$7 million to be undertaken at an issue price of A$0.01 per share and to be underwritten by Ndovu Capital, an affiliate of the Tembo Capital Group; and - Settlement reached with former joint venture partner for US$1.2 million worth of shares and a US$1.2 million cash payment. Acquisition of additional interests"

what the hell is going on? The above extract is from an announcement from Regal Resources, 20 April 2016.
This company had around 200 million shares on issue but the management decided blow this out to blazes by issuing  a placement and massive share issue 700 million at 1 cent, similar  to Strandline's deal. Go and read the comments from angry shareholders about this deal on the RER forum.  Yet bizzarley not one other shareholder on this forum finds anything odd about this strandline deal with Tempo. IMO I think it should be cancelled and done again with a group like Hunter Hall assuming they would want to get involved of course.  Getting Tempo involved apparently means blowing out the securities on issue to the high heavens. Also I see no evidence of Tempo improving shareholder value BUT I would be happy if someone could show me the evidence to prove I am wrong.