An interesting fact. As this is a new company, these shares must...

An interesting fact. As this is a new company, these shares must have been issued as part of the IPO and the number of shares does work out to a $7 million investment at IPO prices. As such, this equates to 23.3% of the total shares issued as part of the IPO. I am assuming this came from the Canaccord allocation which would have been 28% of the shares Canaccord had.

Also, from the distribution schedule of shareholders, >83% of shareholders have more than 100,000 shares or ($135,000) at IPO prices. Not insignificant holdings.

While there are no institutions on the books, the large family holdings, and the Whitehaven holding would make this a fairly tight register of holdings at IPO, not considering the large escrow.