http://www.marketwatch.com/story/st-elias-mines-ltd-closes-private-placement-raising-gross-proceeds-of-4500000-2011-10-07

From the news release: "In connection with the private placement, finders' fees of 8%, totaling $14,508 cash and issuing 2,340 shares were paid. The finder's shares are also at a price of $1.80 per share."

Is a finders fee typical for a PP? Any reason for doing this? If the PP was oversold like previously reported on here, why would we be paying a finders fee?