For those ignorant to the CFTF scheme.
The premium, is marketing spin. What it does do, is limit the dilution. Thats good.
BUT, the kicker is the block trade price. That is the price which it can be flipped for, what it costs the sophs and profs.
Essentially, Its a placement at 26c, disguised as a premium at 40.3c with the canadian tax payers etc, taking a loss on the difference.
And the flow through component has an obligation to be spent within the 12 month cycle.
I observed this on WR1, a canadian lithium exploration stock over the last few years, who raised multiple times with this flow through scheme, and the block trade is where it all typically washed through as per normal placement market dynamics.
(20min delay)