Interesting Annual bigmac.Here's the last "cornerstone"AnnualThe...

Interesting Annual bigmac.

Here's the last "cornerstone"

Annual
The Company has completed an initial placement to Socius of 234,962,406 new shares at an issue price of A$0.043 per share to raise US$10 million (before issue costs). The placement was completed at a...... premium of 12% to the closing price on 30 June 2011. In addition the Company has issued Socius with 117,481,203 unlisted 5 year warrant options at an issue price of A$0.044 representing a 15% premium to the closing price on 30 June 2011. A subsequent tranche will be completed with Socius at a price that will be determined at premium to the market share price at the time of draw down.

AGM
On 1 July 2011 the Company entered into an agreement (Placement Agreement) with Socius CG II. Ltd (Socius), pursuant to which Socius agreed to subscribe for up to $20,000,000 of Shares (Placement). For every 2 Shares issued under the Placement Agreement Socius will receive one.

4.4 cents for those Options referred to in Resolution 2 (being those issued pursuant to Tranche 1 of the Placement

What I did find interesting is that the Socius terms were clearly set for holders to see.
Resolution 3 was generic with Valley not named until near 3 weeks later.

The fine print will be interesting if ever seen.

VMR has already advanced A$2.0m of the Private Placement as a "secured interim loan," which will convert into shares upon shareholders approval at the General Meeting