Let’s just hope CYM are legit and they’ve already got enough commitments to raise the funds. You would have to think MLX/their advisors (Cannacord/Hartleys) have already checked this.
If the article is accurate it will mean $24m in the door with a further $36m as a convertible note (effectively debt lent to CYM that can be converted to stock in CYM at some price).
The funds should allow MLX’s debt to disappear $24m + $5m collected from EMR/Gun Powder +$2m out of cash reserves. Having the balance sheet sorted and the C&M costs disappear will be a complete game changer here.. just got to hope it all goes through ok.
MLX Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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