The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Jan. 11, 2018.
Convertible debenture: $1-million
Initial conversion price: 20 cents per common share
Term of maturity: three years
Interest rate: zero
Warrants: five million share purchase warrants to purchase five million shares
Initial exercise price: 25 cents
Term to expiry: three years
Number of placees: four placees
Total pro group involvement: zero (one placee)
Finder's fee: Mackie Research Capital Corp., $80,000 cash and 400,000 warrants
Finder's warrant initial exercise price: 25 cents
Finder's warrant term to expiry: non-transferable, exercisable at 25 cents for three years
Note that in certain circumstances, the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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