Why isn't the company using funds from this ?Announced back on...

Why isn't the company using funds from this ?

Announced back on the 26/02/21

Venture Minerals Limited (Venture, VMS or the Company) is pleased to announce it has entered into an At-theMarket Subscription Agreement (ATM) with Acuity Capital. The ATM provides VMS with up to $10 million of
standby equity capital over the coming 28-month period.
Importantly, VMS retains full control of all aspects of the subscription process: having sole discretion as to whether
or not to utilise the ATM, the maximum number of shares to be issued, the minimum issue price of shares and the
timing of each subscription (if any). There are no requirements on VMS to utilise the ATM and VMS may terminate
the ATM at any time, without cost or penalty. Acuity Capital and the ATM do not place any restrictions at any time
on VMS raising capital through other methods.
If VMS does decide to utilise the ATM, VMS is able to set an issue price floor (at its sole discretion), with the final
issue price being calculated as the greater of that floor price set by VMS and a 10% discount to a Volume Weighted
Average Price (VWAP) over a period of VMS's choosing (again at the sole discretion of VMS).
As security for the ATM, VMS has agreed to place 50m VMS shares from its LR7.1 capacity, at nil cash consideration
to Acuity Capital. The Company may, however, at any time cancel the ATM as well as buy back (and cancel) those
shares for no cash consideration (subject to shareholder approval).