Capital Raising
As previously announced the Company will undertake a capital raising between $3.5 million and $6
million before costs pursuant to a prospectus is contemplated as part of the transaction. The
minimum raising of $3.5 million will be arranged on a best endeavours basis by Novus Capital Ltd.
Novus have confirmed their full support to the Board for the acquisition and financing of this project.
Existing shareholders will be given the priority right to top up their shareholdings ($2,000 per
shareholder) pursuant to the prospectus.
Consolidation of Capital
As part of the transaction, and subject to the approval of shareholders, the Company will undertake
a consolidation of its capital at a ratio of around 67:1 to meet ASX Listing Rule requirements.
CR will be there but nothing regarding the price of 0.005. It could be around current price or lot higher if SP stabilize higher and it will.
OGI Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held