Ann: Share Purchase Plan Documentation, page-73

The last placement in which I participated, the company took double the amount they were seeking as it was oversubscribed. They still did a scale back and I got (presumably most other shareholders as well) 1/3 of the shares applied for. It took around a month before the balance found its way back into my account. The share price dropped down to under the placement price, so as it turned out shareholders could have bought the shares cheaper at market although you don't get the brokerage free benefit. Each placement will vary and SHs will only find out whether they got a good deal after the fact.