RE:RE:RE:Who are these new shares for ?
I understand that the bought deal is being taken up by mostly new institutional players that are distributed throughout Canada, US and Europe. This is not being done to grease anyone -- well, maybe we shareholders get some grease since we will all benefit from owning shares in a company that is cashed up and in a much stronger position to move forward and negotiate deals.
As for timing and strangeness -- i see the timing as opportunistic. Again - we are at all time highs right before the offering...what would we all be saying if they did not take some money in and a nuclear reactor blew up in Ontario or Quebec and rendered development impossible for 9 months -- we'd be pissed off they didn't capitalize on the opportunity. Its easy to second guess given no one knows what tomorrow will bring...hey, what if Corona 2.0 erupts and our stock goes back to 30cents the way it did when Corona 1.0 hit...you get my point.
As for strangeness of halting -- not strange at all. Investment banks pitch companies endlessley to do financings - that is the business. All that has to happen is a company says yes -- and the wheels are instantly in motion. These deals do not get pitched without the I-Bank knowing they can distribute to their networks. Obviously CRE mgmt approves of Cantor's network of new investors. When they agreed it is their duty to halt because that is material information that could be used to trade on -- which is typically what happens in Canada. How many times have you been in a junior stock and watch it decline meaningfully for no reason - then it is halted, then the financing is announced -- only after the big boys were allowed to blow out their stock in advance to take down the financing. Kudos to our mgmt team for not playing that dirty game - I give them a lot of credit.
This is a super strong financing people....we will all be very pleased with the outcome (IMO) within 2-3 weeks. GLTA