RE:RE:RE:RE:RE:Short position PLI Dec 31th on the TSXYou should google "ATM share equity program".
You will see that the "issuer" (PLI in this case) gets to provide very precise instructions to the "dealer" (Canaccord in this case) on the timing, maximum number of shares to be sold, target amount and minimum acceptable price for the sale of shares. If the specified conditions are not met, the dealer does not sell anything. The fact that Canaccord is selling indicates that they are respecting the conditions specified by PLI. Some of the main advantages of an ATM program is that the issuer can control to sell the shares or not and can adjust his instructions based on its needs and market conditions.