From the horse's mouth courtesy of and thanks to Brighton3187...

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gassed

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187

20/04/17

12:08

Post #: 24164985
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Originally posted by Brighton3187 ↑

Hey Gassin and the rest of long term holders
I sent an Email to Dom this morning asking the reason for CR and I got the reply this afternoon as below :

1. We are raising money from a select number of institutions at a premium to market (13 cents as opposed to our closing price of 12.5cents – this is not typical of placements as they are usually done at a discount to market)from the end of this week onwards we will have 3 new institutions on the company register (which is a very good thing).

2. We will be using the money to strengthen our balance sheet and pay down some debt (especially the convertible note which the market doesn’t like)

3. We will not be making the offer available to our existing shareholders given they can buy on market at a price lower than the placement (so I am not sure how many investors will take up the offer if it’s at a premium to market)

4. We don’t require another capital raising given our net debt position will be very manageable after this capital raising.
5. Quarterly will be out next week and it will meet most of holder expectation

Anybody is welcomed to commment based on the direct infos I got from Dom, cheers.

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From the horse's mouth courtesy of and thanks to Brighton3187 last night.

5. Quarterly will be out next week and it will meet most of holder expectation.

CM8 Price at posting: 13.5¢ Sentiment: Buy Disclosure: Held
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From the horse's mouth courtesy of and thanks to Brighton3187...

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