Those wonderful moments when your humble scribe has no need to think, because his kind correspondents do all the work for him. Reader M threw over a mail this morning which highlighted an aspect of the Kaminak (KAM.v) bought deal announcement of yesterday. Here’s the excerpt from the NR (your author’s bold type):
Kaminak Gold Corporation (TSX VENTURE:KAM) (the “Company”) is pleased to announce that it has appointed Raymond James Ltd. to lead a syndicate of underwriters, which includes RBC Dominion Securities Inc., Beacon Securities Limited, Canaccord Genuity Corp., Cormark Securities Inc. and Mackie Research Capital Corporation, to sell by way of private placement on a “bought” deal basis, $2.5 million of flow-through shares at an issue price of $0.95 per flow-through share (the “Offering”). continues here
This isn’t about KAM and its Coffee project*, this is about the bones of the deal. Count ’em up people, that’s six (6, seis, six sechs) Canadian brokerages splitting a two-and-a-half million dollar bot deal between them. As M rightly noted, a true sign of the times. An industry on life-support, cubicles full of suits wondering what it feels like to work at Tim Hortons. As expressed just yesterday, this cannot last and things are going to have to change, the only question is when.
*I’m not fussed and basically agnostic on it, others whose opinion I respect like it, others still who are pumphouse idiots with no freakin’ clue also like it, debates on the validity of the project can happen at a later date, have a nice day