part of the terms of the project Adavale will be required to...

part of the terms of the project Adavale will be required to issue 25 million shares and 10 million options exercisable at 15 cents. Total capital expenditure is estimated at US$3m. To ensure the project is properly funded and as part of the proposal, Adavale has reached preliminary agreement with a co�]investor to enter into a 60/40 joint venture agreement for the development of the project, on final terms to be agreed.
I would say that the 25 mill issued would be at a predetermined price thus the increase in shareprice.Once at that price and who knows could be 10 cents or could be 4 cents thats where it will lock in .