RE:Can anyone explain to me----The outstanding common shares of Theralase (“Common Shares”) trade on the TSX Venture Exchange (“TSXV”) under the symbol “TLT” and on the OTCQB marketplace under the symbol “TLTFF”. On June 24, 2019, the last trading day prior to the date of this Prospectus, the closing price of the Common Shares on the TSXV was $0.50 and on the OTCQB marketplace was US$0.39. The Corporation has applied to list (i) the Unit Shares (including any Over-Allotment Shares (as defined herein) issuable upon exercise of the Over-Allotment Option (as defined herein) and any Compensation Option Shares (as defined herein) issuable upon exercise of the Compensation Options (as defined herein)), (ii) the Warrants (including any Over-Allotment Warrants (as defined herein) issuable upon exercise of the Over-Allotment Option and any Compensation Option Warrants (as defined herein) issuable upon exercise of the Compensation Options), and (iii) the Warrant Shares, if and when issued, on the TSXV. Listing is subject to the approval of the TSXV in accordance with its applicable listing requirements
Many have said discount but we could see something more akin to an auction or as one has said "what the market will bear" 50 cents seems to be the marker.