re: Ann: Placement of $500,000 / Proceeding w... Had to happen, as was becoming apparent lots of commitments, not enough cash (before any IFE flo). Now we know some details.
Positives * Sophisticated investors willing to put more in - (at a time when funding / sentiment low) * 20c reasonable price given current SP weakness. * Existing holders get to participate (yes sentiment here isn't great, but at least you get the offer) * Option is well priced with 2 year expiry
Negatives * Why raise now? Why not wait for the death adder results, and see if they lifted the price? Puts a question mark into that space. Are the results delayed, or not so good? * Dilutes existing holders
TRF Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
