I will give you a bit of information. Mr Lim has worked with someone close to me previously and is well known throughout the resources and energy markets.
He has come on board and in doing so wants to direct the company in a profitable path. It would've been his influence or a condition of his directorship that he is able to help fund future investments.
Personally I take it as something very positive to have someone of his caliber on this stock.
Last but not last please do read up on the announcements. If you looked at the average price over the last 15 days you will see it at 5.3 cents. Now to finance through our 5 million dollar facility we must discount by 10% or .53 cents making it about 4.77 cents plus give one option for every 4 shares. Do the maths we are now releasing shares at 5 cents, which is less dilution plus no options given.
I would think this is a positive step forward.
TMX Price at posting:
4.7¢ Sentiment: LT Buy Disclosure: Held
