Anavex Life Sciences Corp (AVXL)

[Whiskey/Sausage]

Effectively, you are correct.

The vote is to give a % of shares to another company in some sort of partnership deal. Otherwise yes, you are absolutely correct, why make them 'preffered shares' when they could just re-dilute with 'common shares'?

Ipso facto, this has nothing to do with dilution or raising cash, and everything to do with a partnership.