RE:RE:Canaccord, the bagholder??hydrocarbss wrote: Wow, according to you, Canaccord couldn't sell the initial allotment.
Why oh why would they then go ahead and buy the overallotment?
including the full exercise of the over-allotment option in the amount of C$6,191,250.
It was clearly spelled out in the Engagement Letter and the Final Short Form Prospectus announced to the public. Canaccord was legally bound to close the placement plus the over-allotment whether the they were going well or not.
"..,if an investment bank is going to take the risk, which is what a bought deal does, they had better be confident that they can close on the terms that they have announced to
the public."
Arthur Hamilton
Cassels Brock & Blackwell