The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced March 14, 2017, and March 30, 2017.
Number of shares: 8,463,144 shares
Purchase price: seven cents per share
Warrants: 8,463,144 share purchase warrants to purchase 8,463,144 shares
Warrant exercise price: 12 cents for a two-year period
Number of placees: 27 placees
Insider: Jason Cubitt, one million
Aggregate pro group involvement: 500,000 (two placees)
Finders' fees: $8,921.61 payable to Ascenta Finance Corp., with 127,452 options (Each option is exercisable into one unit at seven cents, each unit consisting of one share and one warrant. Each warrant is exercisable at 12 cents for two years.);
$18,760 payable to Quaestus Strategies Corp. (Emma Fairhurst), with 268,000 warrants exercisable at 12 cents for two years
The company issued news releases on April 5, 2017, and April 21, 2017, confirming closing of the private placement. 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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