Mr. Abby Farrage reports
TRUE ZONE ANNOUNCES PRIVATE PLACEMENT AND OPTIONS GRANTED
True Zone Resources Inc. has arranged a non-brokered private placement offering of up to 6,666,667 units. The units will be offered at 7.5 cents per unit for proceeds of up to $500,000, each unit consisting of one common share of the company and one share purchase warrant that entitles the holder to purchase one additional common share of the company at a price of 10 cents per share for a two-year period following closing of the offering. The warrants will be subject to an accelerated expiry stating that if at any time, after the standard four-month hold period, the closing price of the company's common shares on the Canadian Securities Exchange exceeds 15 cents for any 10 consecutive trading days, the warrantholder will be given notice that the warrants will expire 31 days following the date of such notice.
The company has also issued 4.14 million stock options at a price of five cents per common share to employees, directors, advisers and consultants of the company. As per the company's stock option plan, the options granted will be exercisable until July 22, 2019.
© 2024 Canjex Publishing Ltd. All rights reserved.