There is a long list Termination Events on pages 30 - 33 of the SPP Prospectus which can result in a termination of the Underwriter to underwrite the Offer. These include (vi) (Public statements); without the prior approval of the Underwriter .. in relation to the SPP Offer.
Bear in mind, as per 2 Feb 2017 announcement, AVZ has to pay Cominiere a payment "within 24 months" - so they needed money to pay Cominiere the balance of the US1,500,000 (less the US$750,000 already paid) or they won't be in a position to meet their debt repayment obligations when they fall due (ie by 23 May 2019).
As I understand it the directors cannot knowingly trade when they don't have a capacity to pay their debts when they fall due - and NF must know he has to make a payment to Cominiere by 23 May 2019 --- (that would be the amount mentioned on page 10 of the SPP Prospectus - Joint Venture Agreement Payment - $1,071,430). He can't trade whilst insolvent so he has to have money to make the payment to Cominiere by 23 May 2019 some how or other and that I suspect is why this cash raising has occurred in this way.
Suspect a deal didn't come off that NF was relying on and then had to resolve the impending payment issue when it didn't.
Just my opinion.