The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced May 14, 2018.
Flow-through (FT) shares
Number of FT shares: 7,786,700 flow-through shares
Purchase price: 12 cents per flow-through share
Number of NFT shares: 25,852,800 non-flow-through shares
Purchase price: 12 cents per non-flow-through share
Warrants: 25,852,800 share purchase warrants to purchase 25,852,800 shares
Warrant initial exercise price: 18 cents
Warrant term to expiry: two years
Number of placees: 84 placees
Insiders: Ivan Bergerman, 83,333; Baramundi Investments Ltd. (Calvin Payne), 250,000; John Jeffrey, 2,708,000; Scott Newman, 834,000
Total pro group involvement: 3,810,635 (13 placees)
Agents' fees: Canaccord Genuity Corp., $230,353.61 cash and 1,263,900 warrants; Raymond James Ltd., 199,500 warrants; National Bank Financial Inc., 164,547 warrants
Agent's warrant initial exercise price: 12 cents
Agent's warrant term to expiry: each warrant exercisable into one unit on/before July 17, 2020; unit same as private placement unit
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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