The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Aug. 15, 2016.
Number of shares: eight million shares
Purchase price: 25 cents per share
Warrants: four million share purchase warrants to purchase four million shares
Warrant initial exercise price: 35 cents
Warrant term to expiry: 18 months
Number of placees: 93 placees
Insiders: Siwash Corporate Services Inc. (Frederic Leigh), 40,000
shares; John Robins, 280,000
shares; GRF Consulting Corp. (Gary Freeman), 32,000
shares; Flotsam Cove Holdings Ltd. (Craig Roberts), 29,000
shares; Lundy Management (Stephen Swatton), 32,000 shares
Aggregate pro group involvement: 885,000
shares (11 placees)
Finders' fees: Canaccord Genuity, 19,200 warrants; PI Financial Corp., 2,400 warrants; Haywood Securities Inc., 93,000 warrants; Richardson GMP Ltd., 13,200 warrants; Leede Jones Gable Inc., 6,000 warrants; Mackie Research Capital Corp., 2,400 warrants
Finder warrant initial exercise price: 35 cents
Finder warrant term to expiry: same terms as the warrants issued under 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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