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Wednesday, November 08, 2017 10:47:09 PM
The deal also indicates that the trading float will eventually increase. One must assume the company issued shares of outstanding stock to the financier. Since the deal consists of units with a warrant to buy an additional share at a future price, there exists the potential that the trading float could increase.
The company said the funds will be used for general corporate purposes which is a standard boiler plate explanation about what it intends to do with the money. Since the Canadian version of the SEC exempts the company from providing a prospectus shareholders and potential shareholders have no concrete idea of the current financial status, etc.
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The Nasdaq's third tier, the AMEX can be just as bad, and last but not least, the OTC, it seems, are financial venues that reward failure.
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