Back on 16 January 2012, Tyhee announced that it had has completed the first closing previously announced private placement. This closing was made to purchasers on the President's list. When I first read the news release, I wondered why it used the term "first closing," which would imply one or more closings to follow. Frankly, I didn't know what to make of it.

More recently, there has been an allegation on Tyhee's Stockhouse forum that this private placement was only 45% covered by the first closing. First, can anyone confirm or deny this partial covering as a factual matter? Second, if this is true, shall we expect over the coming months a second closing? That is, is this typically how private placements go: first closings to rich friends & family, subsequent closings to the public at large?

Still learning . . .

Old School