Wildcat's mindset was that they were not out of flow-through funds yet, but they didn't want to run the exploration fund too low, so they put out a smaller-sized offering. They can raise some funds now at .225, but by April 2010 the Manitoba tax credit goes up from 20% to 30% so that would make any future offering more attractive to investors. Also, by then the share price might be higher yet so that a separate offering later would possibly result in less dilution than doing a larger offering now.

NL