Let the (public) games begin!!
This announcement offers me an explanation for the recent selling at a loss that we've been experiencing over the last few weeks. Now that it is public news, management & our new shareholders (thanks to the impending approx. 19% of dilution), and the bought-deal-making bankers have EVERY incentive in the short term to keep the lid on the price, so that they can squeeze out more shares. So, we see so far a measely 5% increase today to keep the investigators happy, but overall the plan IMO will be to keep it as low as possible until the private placement and bought deals go through. This is the only explanation I have for the continued selling at a loss or near loss despite the overall excellent opportunity of this news.
The only response is of course to particpate in the huge discount and buy more during this brief period of weakness. And since the trading volume is so small, significant retail buying could upset any efforts to keep a lid on the near-term price, imo. Once the deals have gone through, I don't expect to still be in the 10s.... or even the 12s.... If this really adds single digit eps, as the press release stated, then we've got a nice flight ahead of us.
Just my take. I'm buying. Have fun all.