RE:Interesting volume starting with Canaccord this afternoonI don`t know the exact reason.
However, the $250K financing closed recently. There were 12 placees. Perhaps these subscribers wanted more shares and are now buying on the open market to fulfill their targets. I think the original financing was for $200K, but was increased to $250K (a few days after the original annoucement), likely due to demand. This would suggest that the placees wanted more shares. Perhaps they are now still topping up on the open market.
Here is the TSX Venture approval from Nov. 2nd (from the TSX Venture Daily Bulletins Report):
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SILVER PURSUIT RESOURCES LTD. ("SPF") BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: November 2, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced October 3, 2016 and October 14, 2016:
| Number of Shares: | 2,500,000 shares |
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| Purchase Price: | $0.10 per share |
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| Warrants: | 2,500,000 share purchase warrants to purchase 2,500,000 shares |
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| Warrant Exercise Price: | $0.16 for a two year period |
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| Number of Placees: | 12 Placees |
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| Finder's Fee: | Canaccord Genuity Corp. receives $14,000 and 140,000 non-transferable warrants, each exercisable for one share at a price of $0.16 for two years. |
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company issued a news release announcing the closing of the private placement and setting out the expiry dates of the hold period on November 2, 2016. [Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.]´´