From announcement - paragraph 5 gives me the gigglesbring on the...

From announcement - paragraph 5 gives me the giggles
bring on the insto's on the TSX market -
Management surely already know who they are and surely it will still be 30m @ ~$2.20 = $66m

+ Management are loading themselves up to the eyeballs!

4. RESOLUTION 7 � Placement Issue of Securities
General
Additional funds will be required to continue exploration activity and development work in relation to the
Sintoukola Potash Project and for working capital purposes, so shareholder approval is being sought for a
share placement facility.
Specific Information required by ASX Listing Rule 7.3
For the purposes of ASX Listing Rule 7.3, the following information is provided in relation to the issue of
shares contemplated by Resolution 7:
(i) The maximum number of securities to be issued is 30,000,000.
(ii) The shares will be issued no later than 3 months after the date of this General Meeting, and
allotment may be on a progressive basis over that period.
(iii) The shares will each be issued at no less than 80% of the average market price of Elemental shares.
The average is calculated over the five trading days immediately prior to the issue of shares, or, if
there is a prospectus, over the last five trading days before the date of the prospectus.
(iv) The shares will rank equally with the existing ordinary shares and will be quoted on the ASX.
(v) It is intended that the allottees of the Placement will comprise a small number of investors, mainly
fund managers and institutional investors, however the Directors will make that determination based
on market conditions and investor appetite. Related parties of the Company will not participate in
the placement.
(vi) The funds raised will be used for continued exploration activity