o.m.g., page-2

Has anybody actually read the announcement closely. The bait is the unsecured convertible note. This makes us think, oh somebody thinks CAG is worth a punt $510.000 and they only want us to put in $190.000. What they are after is the $190.000. With this they need to pay debts, Exergen and Directors.The following part of the announcement tells you this. IN PART. Large Part cash and some useless shares.

it is expected that certain existing creditors (including Directors) will, in part, be paid by the issue of fully paid ordinary shares.

Next, they will entice and amaze you with a technology discovery that will have you falling over yourselves to get into.
They always seem to have access to unsecured notes even though they are always broke and could never re-pay them with a promise to convert to useless shares ???? Wish i could find a lender that silly.

That naughty Exergen for leading CAG astray and not satisfying their precedents.

29 November 2013
CAPE RANGE TO FOCUS ON TECHNOLOGY OPPORTUNITIES
Cape Range Limited (the Company) advises that the proposed merger with Exergen Pty Ltd (as approved by shareholders on 15 August 2013) will, as a result of a number condition precedents not being satisfied, not proceed.
Given the Company’s desire to be both recapitalised and re-quoted for trading on the ASX, the Company is pleased to announce that it has today appointed DJ Carmichael Pty Ltd (DJC) to act as Lead Manager for a proposed $700,000 capital raising.
The capital raising will comprise an initial placement of 3,800,000 fully paid ordinary shares (at an issue price of $0.05 per share) raising $190,000 (Placement) and a further $510,000 pursuant to an unsecured convertible note (Convertible Note). The Placement is to be completed by utilising the Company’s existing 15% placement capacity and shareholder approval for the conversion terms of the Convertible Note will be sought at a meeting of shareholders to be held within 2 months.
The Placement and Convertible Note will be made to investors who comply with the requirements of section 708 of the Corporations Act and will provide the Company with sufficient capital to enable the payment of expenses associated with the Exergen Pty Ltd transaction and will also allow the Company to evaluate new business opportunities in the technology sector.
The proposed terms and conditions of the Convertible Note are as follows:
? Amount - $510,000
? Interest rate – 12% pa
? Security – unsecured
? Availability – DJC to advance the funds not later than 5 days after receipt of firm commitments
? Commitment fee – 2%
? Conversion terms – subject to receiving shareholder approval within 2 months, the Convertible Loan is to be repaid by the issue of fully paid ordinary shares at an issue price of $0.05 per share.
For services rendered pursuant to the mandate, DJC is to be paid (on a success basis) a commercial fee and, subject to receiving shareholder approval, 3,000,000 options each exercisable at $0.20 and expiring 30 November 2016.
Further, it is expected that certain existing creditors (including Directors) will, in part, be paid by the issue of fully paid ordinary shares.
Michael Higginson
Company Secretary