Sonoro Energy Ltd. V.SNV

Where is the CIBC wall this morning ??

[jomag]

V:SNV Depth by Price @09:32:33

Bid				Ask
Orders	Size	Price		Price	Size	Orders
1	3,000	0.065		0.07	25,000	2
1	25,000	0.06		0.075	8,000	1
1	26,000	0.055		0.085	30,000	1
9	219,700	0.05		0.09	66,000	5
3	29,000	0.045		0.095	60,000	2

[SlyFox1]

Seems like games were played to get a certain price. I'd expect some decent green today 

[MJB4231]

700 code just given.... (Move the SP up)

[martindale]

There was also a 300 code given before that, (moving it down 30%,) and a 360.. not sure but thinking maybe move it up so we can take it down again?? ,  just a thought but maybe we need to try using the codes against them.. only buy in lots that promote price ? Just a thought.. 

[ark88]

I don't think thats how MM codes work. First, it has to be a MM issuing the code. We know Virtu ITG is an MM for SNV. Second, it's always a buy. Not 100% sure. Third, the code is given as an odd lot by itself and not as part of other lots in the buy order.

[martindale]

Yes I realize it is a stand alone buy, just have noticed that RBC and TD have issued them as well, I’m sure CBC has too... was just a thought... I have some cash coming in tomorrow I’ll try it, got nothing to lose.. through out a 2100 or something what the heck.. 

[martindale]

P.s. there are now 2 360 codes 1 from virtu, and the other from national.. I’m thinking they are gonna take it back to 6, just a guess.. 

[ark88]

Here's some information on PPs. Pricing The TSXV requires that common shares issued in a private placement be issued at a price that is equal to or greater than the closing price of the shares on either the day before: the day the company announces a transaction; or   the day the target files a price reservation form, less a discount of up to 25% (where the price is

[SlyFox1]

Yep, the full Stikeman's article is a great read.  Sure seems like we hit the 25% discount to get a 5cent PP based off yesterday's close. One can now assume the price is locked so SGE will invest in SNV at the cheapest possible amount and we should trade freely till news (hopefully soon) Question now becomes, what is the percentage SGE will own of SNV and how much additional

[ark88]

I suppose the presumption has to be anywhere between 51-75%. That is present day and possible future ownership of Selat Panjang by SGE. Clearly, from the existing shareholder POV 51% is the preferred outcome.

[gossamer12]

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