Liminal BioSciences Inc. PFSCF

RE:Could someone give me an example of how the PP and financing

[aldo451]

Hi GoBBs,

The Record Date is not the same as the Private Placement date which should happen tomorrow, April 23, followed by the Rights Offering "Record Date"

Again from Fred in an email sent to me earlier today:

The record date has not been set yet. April 23 is the expected closing date for the Private Placement.  The Private Placement is expected to close on or about April 23, 2019, subject to the final
approval of the TSX.
 
The Rights Offering is planned to close thirty days following its commencement and will consist of rights being offered to the existing holders of
Prometic’s Common Shares as of a date that is yet to be confirmed following the receipt of necessary TSX approvals (the "Record Date")

GoBBs wrote: can occur BEFORE the record date ? Its not logical.


According to the statement below TSX approvals are the record date ..without TSX approvals nothing happens. If TSX approvals( the record date) is step one how can the financing and pp shares be included in the rights offering as they will happen AFTER the record date but before the actual rights offering. 


The Rights Offering is planned to close thirty days following its commencement and will consist of rights being offered to the existing holders of Prometic’s Common Shares as of a date that is yet to be confirmed following the receipt of necessary TSX approvals (the "Record Date").

In addition why allow shareholders to subcribe to the rights and then compete with them for the rights ? Its not logical and probably Illegal.

Why state "existing shareholders" if NEW PP and Financing shares are included ? also not logical.