The Ontario Superior Court of Justice (Commercial List) recently confirmed the binding nature of bought deal engagement letters when it awarded a judgment of $16,042,669 plus interest and costs in favour of Stetson Oil & Gas Ltd. (TSXV: SSN), a junior oil and gas exploration company, and against Thomas Weisel Partners Canada Inc. (now Stifel Nicolaus Canada Inc.) (“Weisel”), an investment bank and a securities dealer, for Weisel’s failure to close a bought deal private placement pursuant to an engagement letter with Stetson.