Ann: Magnis Secures $11.1M Investment, page-46

Does anyone else find it weird that MNS gave 700,000 options to a real estate agent (Steve Kremsis) not long ago for seemingly no reason, now they’re doing deals with property developers? At the time, I couldn’t find any mention of a contribution by this person. I think they expired worthless so no biggie I guess?

Anyway, there’s a lot of backslapping going on here. Many predicted $5m, instead got $11m. Small premium to the vwap, small discount to the market. As SteveSage mentioned, $5m probably wasn’t an option as most of that would’ve been eaten up by the C4V payment. It’s not a terrible raise, but it’s certainly not as good as most here are making out. A board seat was given away for less than a 5% stake... with no escrow. The only explanation is that Magnis believes this persons expertise would be helpful in some way. Otherwise it’s quite a thing to agree to...

As the announcement says, this raise is to “strengthen the balance sheet”. This is what many holders/nonholders alike predicted. No major boost to the forward progress of the factories or mine. We await the JV announcement...