Let's not confuse people here. The morning Cormark put out the the call for the original 8M the response was, from what I have seen with other bought deals, overwhelming to the point of another 4M. The underwriters screens light up (message) asking if there's interest and if so, how much do they want. IMO the extra 4M is good news. Cormark is underwriting as per the news release, where those shares end up is for their brokers to place.

I for one see ducks lining up, I have no bad taste in my mouth over the past number of years. Best of Luck. TKB

Great article on bought deals:

http://business.financialpost.com/news/fp-street/bought-deals-are-the-norm-in-canada-but-they-arent-risk-free