PIQ has issued 1.5MM options to Canary Capital for providing 'Corporate Advisory and Investor Relations Services' to assist with 'raising the profile of PIQ'.
1) 500K options @ 25 cents ($125k handed to Canary)
2) 500k options when 5-day VWAP is >25cents, exercisable at 35 cents ($175k to Canary)
3) 500k options when 5-day VWAP is >35 cents, exercisable at 60 cents ($300k to Canary)
While all of us would be pleased with a 60 cents share price, PIQ had a 5-day VWAP only 8 months ago and I doubt it will take long for us to back there...
Forgetting Tranche 3, is Canary's assistance worth $300k within 2-3 months?
Has anyone dealt with them before as a client or their work as a shareholder?
They're an Authorised Rep of BR Securities Ltd, meaning they don't hold their own AFSL but can essentially perform the same functions (albeit paying BR a continual fee). It's the cheaper & faster way to get into business in Fin Services but makes me question their position, history and service.
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