A JV financing method is Superior to a mere Placement.A JV would...

A JV financing method is Superior to a mere Placement.
A JV would show Management 'worthy' of Washington Soul Investment!!

See Placements satisfy Demand by the 'Big End' of prospective Shareholders.Demand cut back at the same time as more Sellers arrive[placement getters]
Placement 'discount' price can be also seen as "Valuing" the Company by 'newbies'.

So,PA IF it's a Joint Venture?there'd be no real reason to broker VWAP diddle.JV's are more based on Interpreting all those Drill Results by a Major,WannaBe In,Significantly.

It'd be interesting to know what Soul's Break Even is on ALL their Holdings[just under 5%]
Yes they bought a swag from a Director Goody for 25cents but they had a chunk before that.

Anyway,it'd be interesting to see how much more or less this Major pays.

happy trading.