The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Oct. 25, 2011, and Nov. 7, 2011.
Number of shares: 6.6 million shares
Purchase price: 10 cents per share
Warrants: 3.3 million share purchase warrants to purchase 3.3 million shares
Warrant exercise price: 15 cents for an 18-month period (If, at any time after the closing of the private placement, the closing price of the company's shares is greater than 25 cents for a period of 20 consecutive days, the company may provide notice to warrantholders that the exercise period will be shortened to 30 days from the date of notice.)
Number of placees: 47 placees
Pro groups: Victoria Patterson, 75,000;
David Durnie, 50,000;
Anderson W.T. Tang, 198,000;
Susan Scott Gabe, 350,000
Insiders: Mark Fields, 50,000;
MC Fields Ventures Inc. (Mark Fields), 70,000
Finders' fees: $16,000 payable to HBS Financial Planning Ltd.;
$2,000 payable to Macquarie Private Wealth Inc.;
$3,440 payable to Union Securities Ltd.;
$1,600 payable to Loeb Aron & Company;
$6,400 payable to PI Financial Corp.
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