mgo announces terms of equity financing, page-10

Don't think your comment on discount is right. The effective price is C$0.25 per share i.e. where the company issues a subscription receipt and and ordinary share as a unit each unit would cost C$0.50 with the subscription receipt funds held in escrow until the release condition is met - shareholder approval. The ordinary would be issued immediately.

Bottom line - At the end of the process there will be ~ 120,000,000 new TSX listed shares and ~ CAD $30,000,000 in the bank +/- paradigm and casimirs cut.

It's pretty convaluted compared to how we would handle in Australia but I guess this is TSX listing rules. Any Canucks on the forum care to comment?