No, the $10m was purely a headline number based on future strike price of the various share issue tranches (actually approx 10.9m shares).
No of shares to be issued would be valued around $3.5m (give or take) at recent Sp's. The strike prices of $-50, $1-40 and $1-80 per share were fairly arbitrary and as normal just appeared to be a way of creating a positive headline to confuse
Ann: Amendment to Fura Gems Merger of Ruby Assets Agreement, page-39
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