Placement to Directors at 3x Market Price.
Note Extension and Raise
• Scout’s Board of Directors, including its co-founders, have committed to a $200k Placement at $0.0875 per share, subject to shareholder approval
o The price of the Placement is triple the last traded price
• Investors representing 94% of the outstanding Facility Notes on issue have agreed to extend the term ~17 months from 16 July 2022 to 31 December 2023, subject to shareholder approval
• $450k has been committed by current note holders to a New
Convertible Note on terms materially the same as the Facility Notes currently on issue