Somebody wants VWAP @ 0.003 or lower....and it's only gunna take...

Somebody wants VWAP @ 0.003 or lower....and it's only gunna take a $1 to keep it there!




ASX Anna 28 June 2018:

"The capital raising includes the issue of up to 333 million ordinary shares with an issue price of 0.3 cents per share to raise up to $1 million. The issue price represents a 7% premium to Laneway’s 10 day VWAP (0.28 cents per share). In addition, the Company will also raise up to $2 million by the issue of 400 million secured Convertible Notes."

"The proposed participants in the capital raising include entities associated with directors, Stephen Bizzell, Rick Anthon, Mark Baker and Peter Wright. The issue of securities to these parties will be subject to receipt of shareholder approval, which will be sought at either an Extraordinary General Meeting (EGM) of shareholders or at the Company’s Annual General Meeting later this year (AGM)."

Please note - over the course of a few weeks prior to this announcement, strangely a number of very small trades went through @ 0.0025, contaminating VWAP, and resulting in a VWAP of 0.28 cents per share accordingly. However, I'm very thankful the entire Board of directors are paying a 7% premium

Imagine raising money after the granting of the ML, or at the very least, at the conclusion to ILUA negotiations....what would VWAP be then....and what premium would the entire board of directors be paying over & above this improved VWAP.

The timing of this capital raise is suspicious at best!

@gassed, you asked: "But, that begs the question, how is he going to get some of that back, actually into his own pocket??"