The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Oct. 18, 2017.
Convertible debenture: $40.25-million
Conversion price: convertible into shares at $1.60 of principal outstanding
Maturity date: two years from the date of issuance
Warrants: 12,598,250 detachable warrants (Each warrant will have a term of three years from the date of issuance of the notes and entitle the holder to purchase one common share. The warrants are exercisable at the price of $1.80.)
Interest rate: 8 per cent
Number of placees: 68 placees
Insiders: John Fowler, $50,000;
Navdeep Dhaliwal, $35,000;
Micheal La Brier, $1-million
Agents' fees: an aggregate of $1,496,875, payable to Canaccord Genuity Corp., Beacon Securities Ltd., Cormark Securities Inc., Eight Capital, GMP Securities LP and PI Financial Corp.
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