Ann: Minbos Raises $3.4 Million to Progress the Cabinda Project, page-7

@Kruiser read the last last paragraph from the quarterly below and compare to the "subscription" transaction just completed.

From the quarterly

Minbos announced on 18 December 2015 that it is in advanced discussions with joint venture partner Petril Phosphates Ltd (Petril) to amend some of the key terms of the Cabinda Joint Venture Agreement (JVA).

This discussions are continuing and the Company is expecting to finalize negotiations in February 2016.

Minbos believe that a successful outcome on the negotiations will be beneficial for all stakeholders and will reduce timelines, operating and capital cost.

The Company has concurrently negotiated a subscription agreement for a material capital placement that will be executed on the successful conclusion of the JVA negotiations.