1. is resolution 8 needed (extra 10% on top of 15% already allowed) because tzl plan to raise at near the 5 c ? because just 15% allowance of 30 m shares ( 200 m shares x 15 % ) at 5 c would only give $ 1.5 m. BUT with extra 10 % then tzl can raise 50 % extra money at 5 c.
2. OR is tzl going to finally give shareholders return and pump share price after patterson have options voted and issue 15 % allowance at higher price and then 10 % allowance at even higher price ? (we know tzl has done its worst this year at this - compare to about 1 year ago).
we donot know but if it is first option then it will be obvious if it happen that this was the whole plan.
what i find is very strange in resolution 8 AND THIS IS IMPORTANT is the resolution says that if no deal is done to use 10% to give to investor who will buy assets ir invesmentment then tzl can use money from 10 % allowance for GENERAL WORKING CAPITAL. please can somebody correct me but is this like asking me to sign a cheque with no value included.
what i donot follow is that because tzl is nearly profitable AND has $ 4 m AND this money can last years AND already has 15 % allowance. then WHY does tzl need resolution 8 for GENERAL WORKING CAPITAL.
BECAUSE i donot know real reason for resolution 8 i am voiting against it. 75 % of votes are needed for this (usually 50% % for resolutions ) so this shows what important resolution it is. I HATE THIS RESOLUTION becuase tzl is asking me if it can issue shares for investment (sound good) BUT if not then they can use it for anything they like.
TZL Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
