Giving Away 59% of The Company For $5M USDThat's what it amounts to as the warrants are DOA anyways at 75 cents so there is no value there.
Your key objective as shareholders is to try and prove that there could be other financing alternatives better than what was presented. Very interesting wording here "management and the board of directors believe that the company has exhausted all other financing alternatives".
So does that mean there are no better alternatives???? Sounds like a nicely crafted line from an LLP!
Go take a look at Eco Oro (EOM.T). We are currently battling our management over there and about to overthrow our board. There are concerned shareholders and dissdents. McMillan LLP are currently the lawyers who are taking down the board and management.