GREY:LCPRF - Post by User
Post by
WallaceWilliamon Aug 27, 2013 1:00pm
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Post# 21701013
This party feels totally not good
This party feels totally not goodOctober 09, 2012
To fund the Company's capital needs through to late 2013 including all remaining costs to complete the PEA (US$2.6 million), repay the US$13 million loan outstanding to Lumina Capital Limited Partnership and for general corporate purposes, the Company has agreed to issue 2.5 million shares to a single, arms-length, party at $9.50 per share for gross proceeds of $23.75 million by way of a non-brokered private placement. This consortium lost so far if the could sell $ -1.350.000. What are they planning to do with the balance? $ 8.15 million buying more time?