The simple bottom line is that there was absolutely no need to place 173 million new shares to sophisticated and professional investors at 25 cents (principally of Sprott Capital Partners - a division of Sprott Private Wealth LP).
This was done as a reward and pay-day to Sprott for their support - pure and simple - end of story.
Sprott make a ton of money out of this, and WAF gets Sprott's support and promotion in North America.
Sprott will also probably be involved now as a consulting company with regard to any future takeover.
To make any real money here, you need to be a registered sophisticated or institutional investor with Sprott.
This is how the game is played, and always will be.
Gw
Ann: Capital Raising Presentation December 2018, page-54
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