Yes sounds like it, the only ones getting rich here it would appear is INYATI CAPITAL and maybe LNR directors, as LNR must raise $10m to earn 50% of earl grey lease causing possibly very large dilution whilst INYATI CAPITAL AND LNR DIRECTORS take very little risk ??
How much was this lease acquired for by INYATI CAPITAL and directors, does anyone know?
So in essence it's a farm in of earl grey lease to LNR from the current owners being INYATI CAPITAL and directors of LNR by LNR ( the company) having to spend $10m to earn 50% ???
Did shareholders get to vote in this???????
Ann: Trading Halt, page-55
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Mkt cap ! $9.774M | |||
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