The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 27, 2016.
Number of shares: 7.85 million shares
Purchase price: 10 cents per share
Warrants: 3,925,000 share purchase warrants to purchase 3,925,000 shares
Warrant exercise price: 30 cents for a two-year period, subject to an acceleration clause
Number of placees: 58 placees
Insider: Buddy Doyle, 600,000
Total pro group involvement: 500,000 (one placee)
Finders' fees: Mackie Research Capital Corp., $31,320 cash and 522,000 broker units payable;
Canaccord Genuity Corp., $3,000 cash and 50,000 broker units payable
(Each broker warrant is exercisable into units with the same terms as the offering.)
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