CPV, page-4911

To answer Kununurra question: What is an "ATM Offering"?An At-the-Market offering is a type of capital raising method used by publicly traded companies. It allows them to issue new shares into the market over time rather than all at once, at prevailing market prices. The idea is to "drip" shares into the market, often through a broker, to avoid heavily diluting share value or causing dramatic price drops. What is an "ATM Subscription Agreement"?An ATM Subscription Agreement is the legal document between the company and an investor (or broker/underwriter), outlining the terms under which the shares will be sold in the ATM offering.It typically includes:Maximum amount of shares to be soldPricing mechanics – e.g., shares will be sold at prevailing market price minus a discountDuration of the offeringResponsibilities of each party (e.g., broker’s role in executing trades)Termination rightsRepresentations and warranties from both parties Why Companies Use ATM OfferingsFlexibility: Raise capital when neededLower cost than traditional offeringsAvoids locking into a single share priceLess pressure and scrutiny than a big IPO or secondary offering⚠️ Risks and ConcernsDilution: Can gradually dilute shareholdersPerception: Market may see it as a sign the company is desperate for cashDisclosure: May need regular updates to shareholders and regulatory filings✅ Who Uses Them?Smaller-cap or mid-cap companies needing ongoing cash flowBiotech and mining companies (common in Australia and Canada)Companies with volatile but potentially strong stock price trendsIf you’re looking at a specific ATM Subscription Agreement or company using one.