pitched at 19c, the over-subscription shouldn't come as a surprise.
What concerns me is the term " general working capital ". That usually includes director fees and day-to-day running costs. As an investor, I want to see my money invested in a profitable enterprise, regardless how speculative.
For the launch, I'm still hopeful and keep my holding, but remain cautious of its speculative nature.
Ann: Placement for $10m Closed Heavily Oversubscribed, page-35
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