This financing was timed exactly the same as every other bought deal taken up by the Canadian brokerage sharks...

These guys look after each other, and you can be sure that the "underwriters" haven't risked a penny, and will never have a single share of KRY held long during any part of the process, so don't try to believe that their participation in the bought deal was "support" of KRY.

Every bought deal is done the same way. The "news" is leaked to the "right" places and the stock is run up for a few days helped along by the "underwriters" who of course know the whole story and the price of the deal right from the start. Once they have drummed up some retail demand on the "rumour" the underwriters start to sell short into the rally until they have unloaded their full allocation of the "yet to be announced" "bought deal" at a nice premium to their agreed issue price.

As a result the "underwriters" have the cash in hand from the short sales at a nice premium to the new shares which they can then use to cover the short position without ever taking any market risk... and... they get a bunch of options just for a bit of gravy on the deal.

The bay street sharks never put a single dollar of their own money into this KRY deal.

The money came from the suckers who bought KRY stock from 50 cents up and that premium of every cent on every share sold at over 50 cents during those couple of weeks it traded up goes into the Bay street boys yachts and porsches.....

Nothing unique to KRY... just business as usual for the Bay Street crowd....