Replies to post #5187 on InMed Pharmaceuticals Inc (INM)

[Ultraz2]

What was that big buy on Thursday? 5 million...and share price didn’t move.

[lesgetrich]

Only issue it was a private place at .70 when the stock was at 2.50. I am sure they could of raised millions more. Those that bought at .70 are already out I am sure.

This stock has never been over $1.95/share. Even on the Canadian exchange it never passed $2.42 Canadian. So I don't know what you're talking about.

The latest offering was opened on December 18 at CAD $.70/share ($.563 US) and included a warrant that could be exercised at CAD $1.25/share ($1.00 US) for up to 18 months from the closing. The closing occurred on January 4. During that period, shares traded between $.62 and $1.89 US. The buyers were multiple accredited private investors...

https://www.otcmarkets.com/stock/IMLFF/news/InMed-Announces-Non-Brokered-Private-Placement?id=178443&b=y" rel="nofollow" target="_blank" >https://www.otcmarkets.com/stock/IMLFF/news/InMed-Announces-Non-Brokered-Private-Placement?id=178443&b=y[tag]InMed Announces Non-Brokered Private Placement/tag]

The private placement is subject to the approval of the Canadian Securities Exchange and the securities will be subject to a four month hold period under securities

Consequently, those who bought shares could not have sold any of them yet. There wa sno guarantee when these people purchased their shares that they would be profitable in four months. There is no reason to believe that the buyers would behave any differently than anyone else who is in the green today. If the prospects for the company look good we hang on and wait for a better price. The offering is now closed and has little to nothing to do with the pps action over the past 30 days...

InMed Closes Over-Subscribed C$9.4 Million Financing