The TSX Venture Exchange has accepted for filing documentation with respect to a discretionary waiver non-brokered private placement announced on April 20, 2016.
Number of shares: 10,025,000 shares
Purchase price: two cents per share
Warrants: 10,025,000 share purchase warrants to purchase 10,025,000 shares
Warrant exercise price: five cents for a two-year period
Number of placees: 16 placees
Insiders: Teresa Piorun, 100,000
shares; Michael Macleod, 250,000
shares; Larry W. Reaugh, 17,500
shares; Edward Skoda
Finders' fees: Keith Allen, $5,500; John Chalcraft, $600; Canaccord Genuity Inc., $350
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the company issued a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). 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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