Little disappointed with the raise price. However when you have...

Little disappointed with the raise price. However when you have one board member owning roughly 15% of the company, and also now the board has committed itself to buying $325,000 worth of shares in this raise that becomes ok too me in part because management having skin in the game does not make this a lifestyle company. It is in their interests to explore explore explore and hopefully if the drill bit works out well all good for us. Basically 22% of the $1.5 million raise is from the board as the issue of 47,000,000*2.5cents to sophisticated investors which I always find a laugh = $1.175 million. So the board will get $325,000/0.025c = 13 million shares, making total dilution here 60 million shares.

Person who lead placement gets $90,000 plus 10 million unquoted options at 7.5c strike price - seems those who do the CR get money for jam given this is oversubscribed. Nice gig for those who do this and it is common across the board by the way in CR but still annoys me - like a real estate agent charging 2% commission to sell your house when over the last two years the house sells itself.

All IMO