Post by
frankman on Feb 24, 2021 7:53am
Understanding closing periods of a private placement
Read the news release again
1) It states as follows “The Offering is expected to close on or about February 19, 2021 or such other date or dates as the Company and the Lead Underwriter may agree (the "Closing Date") and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.”
Yes it can close early if all the ducks are in a row. However they can be cancelled too if all parties agree. Transactions can be negated. If the project is of national interest say on Canadian soil. I have seen the federal government say no which has happened before. It happened in Canada a couple of times. I only personally care if it concludes one way or another. PDM without it still has $7 mil in the treasury.
Comment by
danale on Feb 24, 2021 8:06am
Looking at their latest filing on Feb 18... "It is expected that the closing of the Offering will take place on or about February 24, 2021"
Comment by
frankman on Feb 24, 2021 9:13am
Thank you danale. Good find. And project work is still continuing behind the scenes with the $7 mil in treasury they already have. Looking at their latest filing on Feb 18... "It is expected that the closing of the Offering will take place on or about February 24, 2021"