The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 5, 2014.
Convertible debenture: $1,525,000
Conversion price: Convertible into shares at 30 cents of principal outstanding per share until maturity
Maturity date: Three years from issuance
Warrants: 762,500 share purchase warrants attached to purchase 762,500 shares
Warrant exercise price: 44 cents for a three-year period
Interest rate: 12 per cent
Number of placees: Three placees
Insider: Wesley Clover International Corp., $1-million
Finder's fee: A total of $29,500 plus 87,500 finders warrants (each exercisable into one common share at a price of 40 cents for a two-year period) is payable to Mackie Research Capital Corp.
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