This announcement about the placement to sophisticated investors...

This announcement about the placement to sophisticated investors is the best outcome we could have had. Not only does it show that the company has no trouble at all selling the story at relatively short notice (price has only gone back over 4c fairly recently) to a reasonably savvy investor profile, but it also means there is no reason for most investors to sell it down to 4c.

Some of the SIs might dump at market in anticipation of getting them back at 4c, but they would represent only a small percentage of the total liquidity, whereas a larger CR pitched to all holders would have ensured a price decline to 4c and a price stuck around that level or lower for quite a while.

This way the company retains the short term upside and buzz surrounding it, so I'd expect the price to stay above 4c and after a small pull-back possibly even advance in the short term.

Or I could be completely wrong.