Blackbyrrd I think you will find that the small cap raise, which is actually $4 mil has been conducted in the manner that it has because it is very a very quick process to raise funds offering shares to instos and Sophs as it does not require a prospectus to be produced and lodged with the asx, which is what would be required for a spp or a rights issue. It costs a lot of $$ to produce a prospectus and it would have taken time to produce and then the offer needs to open for a few weeks and then $$$ have to dribble in from shareholders, it is time consuming, expensive and painful. Also Xmas holidays would have slowed this process further and the co probably wouldn’t have received funds until mid February. Instead of all that hassle and expense ibg now gets funds immediately and management can move forward with the project not stuffing around with fund raising for the next few months. This is a very good outcome.
IBG Price at posting:
4.7¢ Sentiment: Hold Disclosure: Not Held
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