Reconnaissance Energy (Africa) Ltd V.RECO

Bought deal not a hot tomato

[Oregonduck]

Canaccord is legally bound to guarantee placement of units priced at $6.35.

As predicted, the Underwriter or Bookie said they may lower the price, now and then, to get rid of the unsold units as per the Final Short Form Prospectus. Only $2.0 million placed with their best clients "The President's Club".

[hydrocarbss]

Understand you struggle with comprehension: Here is what the prospectus stated:   for up to $2,000,000 gross proceeds of the Offering  Those on the President's list are limited to purchases which total  $2,000,000 gross proceeds. Being that the fee on those sales are %3.  Don't want to be cutting into the bookrunners fees. But you completely mis-represented