The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced June 21, 2016.
Flow-through (FT) shares
Number of FT shares: 4.24 million flow-through shares
Purchase price: 2.5 cents per flow-through share
Warrants: 4.24 million share purchase warrants to purchase 4.24 million shares
Warrant initial exercise price: 10 cents
Warrant term to expiry: two years
Non-flow-through (NFT) shares
Number of NFT shares: 5.76 million non-flow-through shares
Purchase price: 2.5 cents per non-flow-through share
Warrants: 5.76 million share purchase warrants to purchase 5.76 million shares
Warrant initial exercise price: 10 cents
Warrant term to expiry: two years
Number of placees: 21 placees
Insiders: Gerald Harper, 3.44 million; Graham Wilson, 200,000; Gavin Cooper, 180,000
Finders' fees: Foster and Associates Financial Services, $6,760 cash and 269,600 warrants; Leede Jones Gable Inc., $2,000 cash and 80,000 warrants
Finder's warrant initial exercise price: 2.5 cents
Finder's warrant term to expiry: 24 months
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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