Post by
Donwaan on Jan 20, 2023 11:14am
PP question
Couldn't $10 million have been borrowed for less than the $700,000 plus warrants that the PP cost?
Comment by
nedstar71 on Jan 20, 2023 12:38pm
I'd say no. They'd be paying 15% interest if they were even able to secure a loan at all.
Comment by
DeputyDawg on Jan 21, 2023 5:14am
I think it's only partly about the $10m. It's the credibility that they could raise this so easily that it gives to the wider market. A show of strength. Interest for me is that they chose 2 Canadian based investors. And yes, $700k plus warrants is a horrendous fee for the introducers, but that's the cesspit all juniors have to operate in.