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Message: Re: PTK PLACEMENT
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A PP requires that participants be accredited investors, unlike a public offering. The main reason is a relaxation of all the hoops the issuer has to jump through to sell the shares (registration of the transaction). Theoretically, those hoops offer the unwashed investor a little more protection that a PP offering memorandum. 

At least that's my memory from the 80's in the US. 

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