RE:RE:New SharesPandora, always nice reading you. Well, I emailed the company and immediately received the contribution form (with T&C's) and wire transfer instructions. Within minutes (as in less than 30), I received notice it was already oversubscribed. So that makes 2 independent statements that this thing is a done deal. So I had to quickly grab what I could from the market this morning. There are plenty of very large holders who probably could take this down further, but I don't think the longs will fall for it. We're just too close to the goal and we know the first sign of a $ contract will actually be the first of many more to come. So we might as well all wait it out. There's still risk, but the Q1 and Q2 results should remove most of it if the $ progress lines up with past "forward-looking" statements. I can wait another 5 months. GL to you too
Pandora wrote: As stated in the news release: (Keep in mind that the offer is already over subscribed so unless they decide to expand the offer there are no units left for sale at this time -- although I have not seen anything officially saying that -- just DK from this board.)
The Offering will be available to existing shareholders of the Company, who, as of the close of business on August 10, 2016, held securities of the Company (and who continue to hold such securities as of the closing date), pursuant to the prospectus exemption set out in Section 2.9 of OSC Rule 45-501 - Distributions to Existing Security Holders and in similar instruments in other jurisdictions in Canada (the “Existing Shareholder Exemption”).
The Existing Shareholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period:
1) unless the shareholder has obtained advice regarding the suitability of the investment and, (if the shareholder is resident in a jurisdiction of Canada), that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction.
2)If the Company receives subscriptions from investors relying on the Existing Shareholder Exemption exceeding the maximum Offering, the Company may adjust the subscriptions received on a pro-rata basis.
Someone else has already posted on here the wording regarding the limits as defined for the "Existing Shareholder Exemption Limit."