No Placing Required16 Dec 2020 12:52
They already have the cash available and the rest is in today's RNS:
Simplistic breakdown of the staged US$54m acquisition cost:
• Deposit (non-refundable): $1 million
• Initial Debt-Financed Payment: $8 million for 15% of Atomic's Working Interest in all of its leasehold on or before December 31, 2020.
· (Note: If the acquisition does not complete, the Company will retain this interest)
• Assumed Debt: $26 million at closing
• Total Additional Debt and Cash: $15 million at closing
• COPL Common Shares to Atomic Shareholder(s): $4 million priced at closing