The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Jan. 31, 2017.
Convertible debenture: $572,040 ($450,000 (U.S.))
Initial conversion price: 10 cents per common share
Term of maturity: 18 months
Interest rate: 5 per cent
Warrants: 4,290,300 share purchase warrants to purchase 4,290,300 shares
Initial exercise price: 15 cents (If the issuer's shares trade at a volume weighted average price of 30 cents over a period over a 10 consecutive trading days, the issuer will have the right to accelerate the expiry date of the warrants to a date that is 15 days after the issuer issues a news release announcing such acceleration.)
Term to expiry: 30 months from the date of issue of the warrants
Number of placees: two placees
Finder's fee: Trump Securities LLC, $31,500 cash and 450,000 warrants
Finder's warrant initial exercise price: 15 cents
Finder's warrant term to expiry: same terms as warrants for subscribers
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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