I agree it was certainly bad form by Clee Capital, providing a "firm Commitment" and then introducing a new condition to the deal which was that they get to nominate a board member to the CI1 board.  Understandably, the CI1 board refused, and the deal fell over.  It's a little rich expecting to be able to nominate a board member to a circa $74m company (on 05-Mar-2021 when the deal was announced, CI1's market cap is $65.5m now) when all you are doing is arranging a $6m cap raise (finding homes for 150,000,000 shares at 4 cents per share when CI1 closed the day before the announcement at 4.9 cps and the day of the announcement at 4.4 cps).  Had the cap raising gone ahead, Clee Capital were already skimming a commission of 6% on the gross amount raised (that's $360K of that $6m) plus also receiving 60 million options exercisable at 10 cents per share with an expiry date 2 years from the date of issue.  Talk about a win/win for Clee Capital!  They wanted a board seat as well?  Greedy Much?  I think the CI1 board did the right thing in this instance in refusing that request, ...although the share price volatility wouldn't have done their investors' blood pressure any favours.