Ann: Placement of 3.5 million shares , page-12

I had a look through the previous Appendix 3B's in the past month, the CTN shares are part of the placement, they got 2.8million of them and 700,000 went to a different client/s of Veritas.

Regarding the options, as long as the share price stays above 20c, most of the options should get exercised. Shareholders (like me) who are planning on selling part of their RHM's to pay for the conversion would rather a rising share price leading into the end of the year as it means less RHM have to be sold to cover the conversion cost. Im holding mine for a few more weeks to see if the PFS or resource estimate is released before the end of the year.