Paramax Resources Ltd V.PXM

PP Oversubscribed?

[husk16]

Can anyone confirm that the PP is oversubscribed?  IMO that is an extremely bullish sign if true.  PXM said in the release they were hoping to have the PP filled by May 15.

[StockBadBoy]

Filed by May 15 in my world means the money is already coming in and that they are not looking any more, this means that the institutions are already sold on the property, have the clients to place the money and it is just a matter of collecting, putting legal documents in place, completing exchange approval, and issuing proper share certificates. You could call one of the lead institutions and

[husk16]

Thanks StockBadBoy

[Kel2]

The issue was oversubscribed.  The closing date given of May 18th is simply the day they expect to finalize the transaction between the brokerage firms, issuer and transfer agent.  It takes a while to create the sub agreements and get them to the buyers and then back to the various brokerage firms.  The "closing" takes place after all that has been done.