Ann: Share Placement, page-2

Share Placement
Cann Global Ltd (ASX: CGB, Company) is pleased to advise that the Company has agreed to place 34 million new fully paid ordinary shares (New Shares) to institutional and sophisticated investors led by New York-based Sea Otter Global (Sea Otter).
Placement proceeds of $418,880 (before costs) will be applied towards furtherance of CGB’s projects and working capital. An ASX Appendix 3B has been lodged together with this announcement.

Commenting on the placement, CGB’s Managing Director Sholom Feldman said: “We are delighted to welcome Sea Otter to the Company’s register and consider this investment to be a further institutional endorsement of CGB’s strategy and prospects”

From the form looks like issue price was 1.232c

Is this a good thing or bad thing? A new investor...