So it's only David Wheeler coughing up. I thought we might have our CEO putting skin in the game, but, again, wishful thinking it seems. Not sure why it's only $20k when he offered to raise $65k as noted below. Or does the $65k include the cost of the options? I'm obviously missing something here.
That, pursuant to and in accordance with Listing Rule 10.11, and for all other purposes, Shareholders approve, the issue of 20,000,000 Shares and 10,000,000 Options under the Placement to be subscribed for by David Wheeler, up to a maximum value of $20,000, to David Wheeler (or his nominee) for the purpose and on the terms set out in the Explanatory Statement accompanying this Notice of Meeting.
"The Company has received a commitment from Mr David Wheeler (Non-Executive Chair) to raise $65,000 (before costs) through the placement of securities on the same terms as the Placement (described in Section 1 above), as follows: 20,000,000 at an issue price of $0.001 per Share (Director Placement Shares); and 10,000,000 unlisted options on the basis of 1 (one) attaching unlisted option for every (2) two Director Placement Shares subscribed for, each exercisable at $0.003 with an expiry 30 June 2027 (Director Placement Options),
DYOR.
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Ann: Notice of Extraordinary General Meeting/Proxy Form, page-2
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