Chuck Raising Funds for CantexNews Release today states that he is raising funds for Cantex (CD).
The biggest mistake Canaccord made in 2019 was to underwrite $10 million private placement.
That deal was done on $6 million charity shares and $4 million flow through shares at $6.50 and $6.0 respectively.
Why? Because once the charity shares were donated by their clients for tax writeoffs, the charity recipients would dump them for cash. They don't want shares, they want money for their cause. CD fell from $7 to a low of 25 cents. However, whoever bought them at post rollback price of 15 cents and held on, would make out like bandits if they weren't too greedy. Yes, CD was trading at 1.5 cents before the 1 for 10 rollback.