Hi all,

Somebody correct me if I am wrong, but don't we need to stay trading below .565 until the Private Placement is closed??

Now I don't know if this is a myth or not about the TSXV and Private Placements, but I was always under the impression that the PP price was set based on the closing price the day prior to announcing the PP publicly and then had to stay below a 25% threshold to be accepted and not have to be repriced.

Let me try and explain: 

Oct 17th we closed at .54 so the absolut min price we could have arranged the PP at would have been at .432 (or 20% discount to close) so lets say .44

So we are good with the pricing of the PP, but now my question is at what price does the PP need to be re-priced??? ie. if the day after we announce a PP at .45 the stock runs and we start trading at $1.00 what happens????

Would the private placement have to be re-priced? I have always been under the impression that the PP will need to be re-priced if the share price rises in excess of 25% of the PP price.

In our case that would be $0.562 so lets say $0.565.

Could someone please clarify this for me. It sounds confusing, but I think i explain it ok???

cheers,

cvac01