Ann: Mining Lease Granted for Isabel Nickel Project - San Jorge, page-44

qtr

"Funding Update – ..... The London Metals Exchange supply On 10 July 2018, Axiom announced the completion of a Private Placement of shares and options raising $1 million. This initial funding placement is part of a greater funding initiative to be undertaken by the Company over the coming months as it finalises planning and preparations for mine development. Axiom is currently in advanced discussions with a number of equity and debt investors who are supportive of our proposed plans of development of the Isabel Nickel Project and other opportunities in the Solomon Islands. If the company is granted its required mining lease over San Jorge or other licences over the Isabel Nickel project, this will trigger one of the last hurdles for some of the interested parties we are in discussions with as to longer term and more structured financing. In the meantime, Axiom has a number of current shareholders and other potential investors who have expressed interest in investment into the Company. Capital will continue to be required until commercialisation of one of our mineral assets. Shareholder value is paramount in these decisions including minimising dilution of share capital where possible. Therefore, it is the Board’s opinion to keep any further capital raisings to a minimum/as required until the grant of leases and licences over the Isabel Nickel Project"

6 july "The Company has successfully raised $1million via a Private Placement of shares at $0.12 with a 1 for 1 attaching unlisted option. The options have an exercise price of $0.20 and an expiry date of 30 June 2019"

i would want to see the details of the next issue, and it will likely be significantly more equity issued. at what price and discount ? that will depend on the market, whether it also remains cautious until their cash needs are put in good order.