Well there you have it folks, $10mill raised by 'sophisticated...

Well there you have it folks, $10mill raised by 'sophisticated and professional investor clients' and at a 3c discount of course. Like I mentioned before, a ploy to fill their mate's pockets as done by so many. They're even giving them the oversubscription without any regard for SHs.
Not all that bad but a bit sad the little guy doesn't get a go, typical. An extra 60mill shares dilutes the register 40%. That's quite a blow and I wouldn't be too happy as a holder not getting a chance to actually offset that.

Still, $10mill dollars will keep their head above water for the time being. Am noting at the end of the announcement they seem very confident about a contract soon with the postponement yet again of Merriden.
I don't think you'll be having to wait too long at all before this comes to fruition and the SP starts to climb. Just depends how 'big' this contract will be.