well, i think maybe i've misinterpreted the placement.
some article here is suggesting that it
is in fact pursuant to Resolution 5 (ie the $2m facility).
if Al Hadeetha Investments are the benefactors of the "up to" $2m at "not less than" 80%VWA facility, then perhaps this is part of the previously mentioned loan agreement with them, which was also for "up to $2m" (ie more of a convertible note facility), and that would mean Alara are just drawing down on some working capital? i assume this is separate from the $350k in contributions by Al Hadeetha Investments that are mentioned in the annual report.
it's not really clear to be honest, but the one positive is that either way they have elected to be issued shares at a premium to the market.
