Ann: Placement Raises $10m to Advance Prairie Lithium Project, page-117

@klr

This raise is incredibly poor for shareholders, just look at who's involved and their past history in recent raisings.

There was no option to do a retail placement, as evidenced by the poor takeup prior. Retail placements are desirable as retail holders tend to be more loyal in holding onto their shares for potential future value creation. This $10m raise was one of last resort (the term 'loan shark' springs to mind).

Sophs will very likely dump ASAP: 400m shares to churn through the market, and then the weight of the 5c options further weighing down the share price if it ever gets back over that within 2 years.

The first settlement of shares (tranche 1) is expected Thursday...