Private placement.Pursuant to applicable CDNX policy, the Company will provide the CDNX with particulars of the names of the purchasers of units and the number of units purchased, within the prescribed 14-day period from the date of this release.
This 14 day period ends Feb.2. The $1.28 per share price has to be close to the 10 day trading average. If positive news were to be released during that 14 day period it could cause the share price to rise thus causing the CDNX to reject the pp at such a low price. However, in order to attract potential investors to invest in their pp, Pyng may have some info that would convince investors that they have a reasonable chance of success with their investment. That is just how the game is played. Once the pp is finalized then the public will be made aware of any 'good news'. IMO only. Cat.
P.S. Be glad LOR doesn't post here any more!