Hi, originally AYB via ICBC Cap. said they were trying to get $50M to be used on, purchase of the 5 farms, improvement of the 5 farms, other working cap. costs and probably to repay some debt.
Now they say they are trying to purchase the 5 for $33M using majority of debt and some equity and also they talk about raising $15M via the issue of 600,000,000 shares.?
If max. debt funding = $33m and max. CR = $15m then the maximum AYB could be trying to come up with is $48m.
Their ann. about this was a bit vague and covered a few possible variations.
If they could make the deal happen and do a CR they would purchase the 5 farms and have $15m play with.
Scary thought?
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