attractive terms on the notes (25% income pa) so Goh should be able to raise the $10m. i dont think mig will be able to repay it though in 12 months so it will effectively be a placement at 7.5c if you account for the free options with a 1c strike price and the note holders convert around 15c. you have to hand it to the MD he is very resourceful at raising funds.
Imminent US Listing?, page-13
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