The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Aug. 25, 2015.
Convertible debentures: $809,506 and $1,814,152
Conversion prices: convertible into 6,745,884 units consisting of 6,745,884 common shares and 6,745,884 common share purchase warrants at 12 cents of principal outstanding until Dec. 1, 2015; and convertible into 18,141,520 units consisting of 18,141,520 common shares and 18,141,520 common share purchase warrants at 10 cents of principal outstanding until Dec. 1, 2016
Maturity dates: Dec. 1, 2015, and Dec. 1, 2016
Warrants: Each warrant in the $809,506 portion will have a term until Dec. 1, 2016, and entitle the holder to purchase one common share. The warrants are exercisable at the price of 12 cents.
Each warrant in the $1,814,152 portion will have a term until July 1, 2017, and entitle the holder to purchase one common share. The warrants are exercisable at the price of 10 cents.
Interest rate: 12 per cent
Placees: 13
Insiders: Dr. Corporate Services (Derick Sinclair) 933,690;
Yuzheng Xie 7,539,130
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