Of course I wasn't inferring that Tribeca is investing in the placement (sorry if it read that way). All I was saying is that Tribeca appears to be a fund/asset manager and a bigger broker...who does cornerstone investments, direct investments, sub holdings etc... compared to your average brokers whose standard model is to take 6%+some free options and pi$$ off.
For example...
MRL got $3mil loan from funds managed by Tribeca
SUP had $60mil finance facility from Tribeca in the past along with a cornerstone investment
TSO got a cornerstone investment from Tribeca as part of a placement in the past
It was a sub-holder in K2F
It was a sub-holder in Co1 before it's merger/acquisition
Tribeca's market commentary seems to be well respected in general.
I don't have first hand experience with this mob in the past, hence my request for any others who know them or seen them in their other stocks to share their experiences.
Might mean nothing eventually...as you said they are getting well paid to do this...but with micro and nano caps, time and time I noticed that some brokers have good reputation to provide on-market support and getting long-term "sticky" clients rather than the typical brokers that we see every day. For example, most of the cap raises by 62 capital do well because of their client base...Sprott is very picky when it comes to micro caps fund raising but the selected few (e.g. CTM) do very well...Peak Asset some times has skin in the game in cap raises and support the raise price on-market. On the other hand, we've seen how Sanlam's clients were happy to take their 5-10% profit + keep their free options and dump SCU's placement shares on the market as soon as the placement concluded in Apr. So, the right broker raising funds makes some difference IMO.
Like others, I am incredibly frustrated as well! But I too think it's not over yet, at least till I see what the JV is about. No matter, how ignorant the company is, I'd like to think they won't approach the market for that kind of a cap raise without some substance in the JV, especially after all these recent suspension dramas. Time will tell whether I'm optimistic or a stupid sheeple!
(20min delay)