The TSX Venture Exchange has accepted for filing the documentation with respect to a non-brokered private placement.
Number of shares: 7.81 million common shares
Purchase price: Five cents per common share
Warrants: 7.81 million warrants to purchase 7.81 million common shares
Warrants exercise price: Five cents per common share for 24 months following the closing of the private placement
Number of placees: 29 placees
Insiders: Norman Farrell, 100,000;
Sabino Di Paola, 40,000;
Jens Hansen, 100,000;
Bruce Deluce, 100,000
Finder's fee: FIN-XO Securities received $27,787.50 in cash and non-transferable warrants to purchase 555,750 common shares at an exercise price of five cents per share for a period of 24 months following the closing.
The company confirmed the closing of that private placement via the issuance of a news release dated Oct. 20, 2014.
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