Insider Buy
I think that new investors will look upon this in a favorable light.
Last summer, when there was a bought deal, insiders sold. This time they bought. This suggests that in contrast to last summer, there might be some positive follow-on news.
I appreciate that life is not as simple as this, but it is still a positive development.
If you believe that insiders such as Legault/Wallace will be rewarded with additional shares for an IP consolidation instead of cash or a combination thereof, then this is doubly good, in that they would purchase additional shares in advance of such a deal.
This buy was a private arrangement for insiders, all on the same date and at the same price. And at a price greater than the offering and without the warrants. So it was a coordinated deal outside the Public Offering (PO). Probably with a single SH(s). Maybe involving the senior broker warrants?
So kudos to management for pursuing this when they might have done better with a private placement (PP), where they could have participated at a lower price and with warrants.
This is all pure specualation. But it gives me a warm and fuzzy feeling that I initially didn't have when the bought deal was initially announced. This is good news. Let's see what evolves.