A non-renounceable rights issue refers to an offer issued by a...

A non-renounceable rights issue refers to an offer issued by a corporation to shareholders to purchase more shares of the company (usually at a discount). Unlike a 'renounceable right', a 'non-renounceable right' is not transferable, and therefore cannot be bought or sold.

For reference, CHM did more or less the same thing in late February. PCK should put out an an accompanying presentation.

I'm no coward. I called repeatedly for a CR later in the year - got it wrong. The timing on this one is highly questionable but if Daffas said they'll be raising as 'strategically as possible' I'll take his word for now.

90m extra SOI coming at 2.8c through Insto's is far from great. Some will take their instant profits and probably drive sp down to 2.5-3c short term. I can live with buying more at 2.8c knowing Painchek will likely be fully funded to profitability next year. As for the strategy, I can only believe based on a recent exchange with the CEO that it includes a significant partner announcement shortly after & progressive quarterly.

Good luck.