RE: Well... The best part of the news release is near the bottom were it says that there will also be a private placement of 5mln shares @ 0.20, meaning one big buyer out there.
Second if all the stock is sold and all the warrants exercised there will be about 40mln more share in the company but also 9.3 mln more in cash. This is less dilution than with the debenture and no interest to pay (a big saving). The money raised is to keep things going for now and start small stuff at Sandong, the rest of the monies needed will be from IMC and the bank loan.
All in all not as good as it could have been (not by a long shoot) but it does put a floor on where the stock is going to go (ie the big private placement) and since IMC is mentioned again at the end of the news release let's me to beleive the deal is going to go ahead.
Again we have to wait for the big IMC news (and I think it should be out in a short time frame now that the financing news is out).
If you beleive in the company it is a great chance to get in, if not then move on...
ALWAYS DUE YOUR OWN RESEARCH AND DUE DILIGENCE