I'm with you Turr still believe but completely flabbergasted by this offering with no subscription agreement in place. Regulators in Canada actually stipulate companies should have one in place when proceeding under a LIFE financing to protect their interests. 
Is the company in such dire situation they could not even stipulate strike price? Times are tough in capital markets but they had months to plan this out when they knew early on there was insufficient catalyst to drive ATM sales.

We can only speculate they may have suffered a recent setback with a major customer or partner that may have provided funding and scrambled to get this done.  Lots of questions needing answers why this was handled this way with full knowledge share price would tank. If this goes through sub 3$ Can. we are looking at 10-20% dilution for maybe 6-8 months. Heavy price.