IMO this sounds even more worrying, potential conflict of interest. Your mate's a major shareholder in your mining company that is in the process of acquiring a spec tech company. Then your mate, being a good mate that he is, underwrites a substantial amount to satsify ASX and HoA requirements.
And all this based on trust? Or is there more to the story?
Reminds me of a 'sure thing' in horse racing. Your mates mate (trainer/owner) provides a tip for race 3 and you place a bet on it because..well.. It's a sure thing.
BC - trainer/owner
AZK - your mate
MLX - you.
DYOR - all IMO
Capital raising, page-75
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