RE:RE:RE:RE:RE:RE:RE:Low volumeIt is the part about the majority raised "distribution".. "by prospectus" that gets me in practical terms. I guess majority could be considered 50.1%, but given that every company had some cash raise through prospectus, how does the existing balance correlate to those funds. Anyhow, doesn't matter if I understand it or not, TSX listing is something that want to do, and should be beneficial, so it is up to them to figure it out. If there is some placement, it is a cost for the good as long as it is not some ridiculous discount to market where the placees will be locking in immediate profits and impacting the share price for the rest of us.
pointer wrote: canyousayiii wrote: Arbourmark, thanks for the extensive comments. In terms of the TSX listing, there is a specific requirement relating to $10M in the treasury. It is not just the question of whether you have it but also how you raised it. While they could easily borrow money against strong purchase orders from the banks, I think that means of raising the whole amount does not necessarily respect TSX requirements. Someone can englighten on the general idea or exact technical requirements.
Yes, it is pretty specific. The guide can be found here: https://www.tsx.com/ebooks/en/2020-guide-to-listing/ But even if they had to raise some money for this requirement, it could be a million and a half shares at $4.50. That's not much of a dilution.
A little dilution wouldn't hurt a bit if it meant getting on the TSX that much easier. And if it was a private deal at a small discount, I think the share price would rise, as that would indicate confidence in the company. JMO