Dilution is overhead for sure and a good reason for the our SP performance in light of the recent NR. I am getting the impression that they expect this to fill with no problems; a June 30th date has been set for completion, but perhaps it may be fully subscribed earlier. Here is a definition of a "bought deal":

Thus, an underwriter only agrees to a bought deal if it believes there will be a good deal of demand so that it can quickly re-sell the entire issue.

Also, I feel a sense of change in the not for sale in the US in the email. I know that there are regulatory orders not for distribution into the US, but the political manovevers to secure this permit appear to be in place.

From the Bought Deal Financiing:

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.