I guess this was inevitable taking history into account, but at...

I guess this was inevitable taking history into account, but at the risk of getting bombed by the Nay Sayers, non holders and only looking for a positive spin on what a Capital Raise means here goes!!

A capital raise is when a company asks for additional money from existing or potential investors. The additional funds raised may be in equity, debt or convertible instruments with debt and equity features. Different capital raising methods, and the reasons that inspire them, can impact a share price differently.
Now once again at the risk of being totally wrong, couldn't Capital Raise also mean a debt facility from an Investor, which would fit with the latest narrative, again purely speculative thinking.

Yesterday EVR released this announcement. Something similar would be nice for WWI also to get things going again!!


ASX ANNOUNCEMENT
7thFebruary2023
EVR Secures $25M Investment
Commitment
EV Resources Limited (ASX:EVR)(“EVR” or the “Company”)announces that it has entered an
agreement for a $25 million investment commitment from Sapphire Global Energy Fund, LLC
(“Investor”or “Sapphire”)(“Capital Commitment”). The proceeds from the capital investment will
be used to strategically acquire projects and as working capital to develop further the Company’s
current portfolio, including but not limited to drilling campaigns and funding towards JORC compliant
mineral resource estimates of the projects.
EV Resources’ Executive Director Navin Sidhu commented:
“The investment commitment is another major milestone that will enable us to grow significantly over
the next 12 months. We look forward to implementing our vision to become a strategically diversified
explorer and developer of precious and green energy metals.
Sapphire is very supportive of the Company and realises the potential we have, thus they have provided
us with an extremely competitive and sizeable facility.This facility enables us to draw down when
necessary,allowingus to better manage our funding needs,reduce dilution and not be at the mercy of
the markets.”
Terms of the Equity Placement Agreement are as follows:
•Investment:$25 million via an equity draw down facility.
•Term:The Company has the option to draw down on the facility for60months commencing
on 1 March 2023, or an earlier date agreed upon.
•Security Shares:The security provided to the Investor is 35 million shares to be issued prior
to the first draw down(Security Shares)which may be utilised to offset any draw down.
•Placement Request:On draw down of the facility, the Company is to send a Placement
Request requiring either:
an amount of securities for the Investor to purchase at the Placement Price.The
number of securities to be purchased will be equal to the lower of:
The number of securities requested;
30% of the total volume traded in the 10 trading days prior to each Placement
Request;
$2m divided by the Placement Price;
The Available Facility Limited(being $25M less draw downs completed)
divided by the Placement Price;
The Company’s available placement capacity under LR 7.1; and
The number of Security Shares less the aggregate amounts of any reductions;

or
a placement amount(the“Requested Placement Amount”). The Requested
Placement Amount will be the lesser of:
the Requested Placement Amount;
$250,000, whichmaybe increased to $500,000by mutual agreement;
the Available FacilityLimit(being $25M less draw downs completed);
the Placement Price multiplied by the total ofSecurityShares less the
aggregate amount of any reductions to the Security Sharenumber; and
the Placement Price multiplied by the Company’s available capacity under
Listing Rules 7.1.
•PlacementPrice:The price of the draw down will be 95% of theaverage of thelowest 3daily
VWAPs during the 11trading days following thePlacement Requestbeing sent to the Investor
(“Calculation Period”).
•Trading Restriction:The Investor agrees to not trade more than $25,000 worth of EVR shares
or more than 20% of therelevantdays’ volume (whichever is higher), in a single day.Where
the number of shares has been specified in thePlacement Request, then the Investor agrees
not to sell in excess of 3m sharesor 20% of the daily trading volume (whichever is greater)
during the CalculationPeriod.
•PlacementConditions:The following conditions must be met prior to a Placement:
oThe Shares are not suspended from trading on the ASX or subject to a trading halt.
oIt has been at least 12 Trading Days since the immediately prior Placement Request
Date, provided that this may be reduced to a lesser number of days by mutual
agreement between the Investor and the Company.
oThe Shares have not traded below A$0.008per Share during any of the 10 prior
Trading Days;
oThe immediately prior PlacementRequesthas Completed.
oNo Event of Default has occurred.
•Facility Fee:3% of the equity facility amount to be paid in cash or shares(at the Company’s
election):
o0.75%within 3 days ofexecuting the Equity Placement Agreement.At the Company’s
election this fee is payable by the issue of 7 million shares at an issue price of
approximately$0.027being an80%premiumto the Company’s current trading price;
o0.75% upon first draw down;
o1.5% upon draw down of 50% of the facility.
AboutSapphire Global Energy Fund, LLC
Sapphire Global Energy Fund, LLC (“Sapphire”) is a New York City-based alternative investmentfund,
managed by Obsidian Global PartnersLLC,focusedon providing growth-oriented capital to public and
private companies globally.

Just Sayin!!