Don't know if the above piece is subscription only.
It says they will raise $20mil through a two-tranche placement at 10c per share.
The first tranche will raise about $13.5mil and the second tranche $6.5mil.
The Company also intends to conduct a Share Purchase Plan to raise up to $10mil.
The deal is oversubscribed.
We will obviously get confirmation tomorrow morning by 9:30am. This capital raising will get them through the June quarter after which they should be cashflow positive from operations and able to meet the quarterly repayment instalments to Varde.
NCZ Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
