What has made this a little more complicated is that insiders account for more than 25% of the debenture funding and anything above 25% has be approved by the TSXV. Thus the announcement of the financing had to be made before it closed in order to get TSXV approval with the larger than normal insider participation.

I hope people are happy with what Tom has put together. It  took  a lot of co-ordination and effort to minimize the dilution prior to  commercial  production but I  think this really does demonstrate that commercial  production is anticipated with great confidence and the interest payments are justified. For those who have or plan to participate in the debenture I think it is a really solid investment. I would not expect to  see anyone convert until  the debenture has matured and as such we are not  going to  see the same kinds of pressures on the share price as we have seen in past raises.

 I think Tom has done a good job to finance this company for accelerated growth through this offering.