oogee, you hit the ambiguous nail on the head. However, the 25% market discount is for private placements. Since this is a public offering, I don't believe this discount rule applies. I have not been able to find any OSC rules that state % market discounts are available for public offerings.
Public offerings are generally not subject to hold periods, which is why they normally are not market discounted. The reason PPs are subject to discounts is because PPs are subject to a standard 4 month hold, so the discount is provided to compensate for that hold.
http://www.alixecormick.com/discount-pricing-of-private-placement-securities/
Therefore I believe Ian Taylor is correct. The pricing in the NR is referring to USD and not CDN. I expect a correction will be issued before market opens tomorrow.
We have Ian and Mazan both reporting from their brokers/sources saying the numbers are in USD. We also have Rocky indicating that his request for units was coming out to around .50 CAD.
If retail panics tomorrow, I'll be ready to buy.
