Paraphrasing standard prospectus guff isn't going to be much use to you. Simply because saying "directors are confident that commercial debt facilities will be available" is very different to saying that such facilities are already in place.
The clause as written is a joke and there are sound reasons why the nomad has specified it the way he has. It is meaningless and you know it.
It's much easier to get equity financing than debt financing and they have already failed to get more than 20% of what they aimed for! If they can't persuade investors to part with their money, I'd love to be a fly on a wall when they talk to the banks!
The only reason the TomCo leases have come to market through this route is because they had no chance of getting a listing on their own merits. Since Aim rules have tightened up for resource stocks, the only way for crap such as this to get on the market is via a shell. Enter Netcentric ...
The bottom line is that, post aquisition, there will be nothing but hot air supporting the market cap.
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