Closing Date of OfferingFollowing is a key excerpt from the Short Form Prospectus as amended on Oct. 20, 2020:
"The Closing of the Offering may occur in one or more tranches on one or more Closing Dates. Provided that the Minimum Offering is met, the first Closing Date is expected to take place on or about November 12, 2020 or such other date as may be agreed upon by the Company and the Agents, but in any event, no Closing Date shall occur later than ninety (90) days following the final receipt for the (final) short form prospectus by the applicable securities commissions."
So, two takeaways:
i) We should probably temper our expectations for a NR about this latest offering today (or even by Monday). However, it is difficult to imagine an update not being provided concurrently with the corporation's Q3 report which is due by the open of markets on Tuesday morning, IMHO;
ii) We can see on SEDAR that the OSC issued the receipt to SZLS on Oct. 19, 2020, and so it could conceivably be as late as Jan. 17, 2021 before we see a subsequent NR about a final tranche having been closed;
My opinions only. GLTA