RE:From what I can see they can price a PP @ a 25 % discount
Unlikely that will happen. But, this is the venture exchange !!!
Typically they would go on 20 day average price. That would be much higher than 25% discount to today. They are definitely putting a lid on price and the longer they do it the better the finance pricing (based on daily averages). Tomorrow does seenm like a likely time to announce private placement.