The way I read it (correct me if I am wrong). Basically issused at 1.71 per share exactly as Pedalves1982 said. However instead of Valor getting tax credits for the mining expenditure on the amount raised, these credits are passed down to the investors who participated. So technically those investors got the shares for cheaper, but we would only get to utilise any of these tax credits once we are generating income and therefore as an explorer why should we really care.
Ann: Trading Halt, page-78
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