Sophs get an offer and take it up or don't. Not sure why you think they would have had any say in it or its timing?
Sophs see opportunity to make a (quick) buck then approach management.
T20 will often support regardless
For short memories..............
Raise was announced at a level where barely any volume went through the stock over a 3 month period....shareholders were damn angry...and rightly so.....Terrible timing and judgement
Ann: NAE Secures $1.6M to Develop Redmoor Tin & Tungsten Project, page-22
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