So that is approx 200,000,000 shares coming out of escrow?
I think they would have a hard time selling them all at these levels. More likely they have an eye on upcoming events ie the debt facility and the possibility of the price increasing due a "strategic placement at a significant premium to the prevailing share price".
So, I reckon your assessment of this decision as a demonstration of confidence in the company is spot-on, cj. Confidence, at least, in achieving these two 'milestones'.
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