RE: TSX Dilution Rule That rule is for mergers and acquisitions where shares are involved, instead of cash. How could you try and pass that off... it says it right in the article. Are you grasping any straw that's possibly available ? Here is the LFD news release where they cancel the financing. It says the reason involves the regulators' concern regarding commitments on its' properties.
Longford Energy Inc. has elected not to proceed at this time with its short form prospectus offering while it evaluates alternative financing proposals and clarifies matters raised by the regulator with regard to the company's commitments on its properties. The financing was previously disclosed in the corporation's news release dated April 28, 2011.
In addition to the announced public financing, the company has received a number of financing proposals that it continues to consider. The company expects to provide more details regarding its financing plans in the near term.