The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced July 23, 2020.
Number of shares: 36,363,638 shares
Purchase price: 22 cents per share
Warrants: 36,363,638 share purchase warrants to purchase 36,363,638 shares
Warrant initial exercise price: 30 cents
Warrant term to expiry: three years
Number of placees: 121 placees
Insiders: Koios Corporate Financial Services Ltd. (Salil Dhauyma), 72,727;
Western Investments Ltd. (John Darch), 300,000;
John Darch, 228,000;
Stephen Kenwood, 140,000;
Kenneth MacLeod, 263,636;
James G. Taylor, 307,000;
Melvin A. Herdrick, 100,000;
Neil Maedel, 181,818
Total pro group involvement: 473,273 (three placees)
Finders' fees: Mackie Research Capital Corp., $18,634 cash and 84,700 warrants;
PI Financial Corp., $1,540 cash and 7,000 warrants;
Haywood Securities Inc., $26,434.10 cash and 120,155 warrants;
Canaccord Genuity Corp., 1,043,802 shares and 2,087,604 warrants;
Raymond James Ltd., $3,080 cash and 14,000 warrants;
Echelon Wealth Partners Inc., $1,540 cash and 7,000 warrants;
Arbora A.G., $11,550 cash and 52,500 warrants;
Odlum Brown Ltd., $3,500 cash
Finder's warrant initial exercise price: 30 cents
Finder's warrant term to expiry: three years
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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