Funding Facility

The recently-announced Funding Facility demonstrated why Graham Kelly is our ace-in-the-hole.

One of the Funding investors is a former executive at Hudson Bay Capital who is well known to Graham. When Triaxial did a reverse takeover of Novogen in 2012, NRT had about $800k in cash; no assets; and a market cap <$5 million. Hudson Bay Capital came to the rescue.

GK organised 5 x $3M Notes which were converted into shares as they were progressively issued. Hudson Bay did a brilliant job selling those shares in small lots that did not depress the share price; and GK was able to cancel the last two Notes. IIRC, the market cap for Novogen went from <$5M to $145M before GK was shown the door.

Noxopharm has good liquidity; and a great story that should translate into a flow of good news. The Funding Facility gives Noxopharm the flexibility to only take what it needs.