Any Ideas?Industrial Alliance Securities Inc. purchased 2.75 FOBI shares around 9:13 AM (Pre-market) at $0.09 per share.
Why would anyone or any company do that?
Comcast indicates that it takes a $50K equity in each of their 10 Founders companies (i.e. FOBI). That amounts to about 750K FOBI shares (if you factor in an exchange rate of 1.35 US for the equity investment in FOBI. So it isn't likely Comcast.
I would assume that the FOBI LIFE share offer is closed; otherwise why would someone pay an extra $55K Cdn at $0.09/share when they could get 2.75 million shares and 2.75 million warrants and save $55K.
That also doesn't include any other of the large volume purchases yesterday that were 1 to 2 cents over the FOBI LIFE share offer.
So, any reasonable/plausible ideas?
Cheers and stay informed, jdfm2