RE: Let’s be positive14 May 2023 12:14
Morning Peeps.....! hope ya havin a great w/e...
" Post-year end, secured additional funding through a senior secured loan facility of up to $2m to accelerate Projects I and III. " hmmm, proj III included as peeps have stated....!
https://polaris.brighterir.com/public/block_energy/news/rns/story/r77p5zr
And day later we're informed that the co. "increased the Loan Facility by USD 0.94 million" up to max BTW (they'd've done more if they could IMO......! :()
https://polaris.brighterir.com/public/block_energy/news/rns/story/x5zkv9x
.........and all for the right reasons BTW. :)
If anyone here would've preferred a share diluting placing for $2m raise their hand......!
The BOD don't want that (salary sacrifice scheme), and new investors who have participated in the loan facility wont, as their warrants @1.7p ( 25,330,249) and 1.92p ( 19,352,394) wont be of any value (as if 16% PA isn't enough eh.....! :)
All the best (16% ain't bad, could've done without the warrant though TBF........! :()
690m shares in issue 45m warrants @ c.1.8p aren't gonna cause a problem mind.......