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Webral,

the placement that they are seeking approval for is not at a minimum of 1.25c but at 80% of the weighted vwap 5 days prior to the placement. The 1.25c was an example. That being said at today's price of 1.6 the placement would be at around 1.25.

This proposed placement does not pass the smell test. The incoming deal will London to a brick on require approval by shareholders so any placement needed could then be approved by shareholders at the same time, not upfront with no facts and no disclosure of who is being cut into the deal.