Macrae
The reason why ESI has now gone down the SPP path is because they made a pledge at the AGM that in future ALL shareholders will be treated equally in the future - hence the recent Placement and SPP.
ESI still has access to $20+M in the form of drawdown facilities and convertible notes (subject to certain criteria being met).
The money raised in the SPP will be used to secure the IP -this will enable ESI progress further with their sales leads and sign contracts.
is it "later in the week" yet?, page-4
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