Pretty much all of these share issues are for money already received. So not much achieved with the money.
No 10 is for part payment of FPG Tenement.
No 9 is the interesting one. Basically converting previous debt to convertible notes to Whead. Who owns Whead is the question?
The table for conversion (below) they provide as a guide is very generous to CLZ and not realistic considering its current share price.
More likely scenario these will be converted once the price hits .001 less 20% discount = .0008 which is equivalent to 2.625billion shares which will essentially give control to Whead. Again, who controls Whead?
- Forums
- ASX - By Stock
- Ann: Notice of Annual General Meeting/Proxy Form
CLZ
classic minerals ltd
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Pretty much all of these share issues are for money already...
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