The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Nov. 6, 2023.
Number of shares: 13,495,076 shares
Purchase price: 13 cents per share
Warrants: 13,495,076 share purchase warrants to purchase 13,495,076 shares
Warrant exercise price: 25 cents for a three-year period, subject to an acceleration clause
Number of placees: 38 placees
Total existing insider involvement: 384,616 (one insider)
Finder's fee: $12,129 cash and 93,300 warrants
Finder's warrant terms: Each warrant entitles the holder to purchase one common share at the price of 25 cents for period of two years from the date of issuance.
The company issued news releases on Nov. 20, 2023, Nov. 30, 2023, and Dec. 1, 2023, confirming the 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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