This is exactly how it works!Is everybody here new to the stock market? Man this is frustrating. Do a little research for gosh sakes.
This is exactly how it's done for an uplist. Any recent uplist to the tsx did just this right before listing.
They've raised money via a prospectus to meet the criteria that they have to raise money through a prospectus.
The "discounted" price is because they are a new company to the big board, AND because the investment banks are the ones who have the say not Peter, AND it's for speed. He got this happening just days after announcing they applied to uplist.
The clause about it to be used for "general purposes" is always written in these NRs; they are not allowed to write "it's for the uplist" because that's a forward statement that's not true yet and is not up to them. The money isn't to hand over to the TSX, it's merely to show the TSX that they CAN raise money through a prospectus. The money is there for them to use as they wish, hence "general purpose use" or whatever.
It's a million shares or so, of little to no consquence. You don't think there's gonna be dilution down the road? Cmon.
It's a bought deal by Mackie, who gets to sell these to their clients (instituional investors, etc.), so no, you can't buy these on the market. But again, this is how it works folks.
The deal will likely close by Tuesday of next week if not sooner.