Mr. Cliff Grandison reports
ALASKA HYDRO CLOSES 2nd TRANCHE OF PRIVATE PLACEMENT
Alaska Hydro Corp. has closed the second tranche of its previously announced private
placement of flow-through common shares at a price of 10
cents per share. Under the second tranche, the company issued 950,000 FT shares for gross
proceeds of $95,000, bringing the total proceeds raised under the offering to $110,000.
The offering was made available to existing securityholders of the company as of April 4, 2017, using B.C. Instrument 45-534 exemption from prospectus requirements
for certain trades to existing securityholders and other provincial equivalents. In the
subscription agreement, applicable subscribers certified that, on or before the record date, they
acquired and held a common share of the company.
All proceeds received by the company from the sale of the FT shares will be used to incur
Canadian renewable and conservation expenses (as such term is defined in the Income Tax Act
(Canada)), which will be renounced to the subscribers in the aggregate amount of not less than
the total amount of the gross proceeds raised from the issue of FT shares. Haywood Securities
Inc. received 17,500 common shares of the company at a deemed price of 10 cents per
share as payment of a finder's fee in connection with the offering.
All securities issued under the offering will be subject to a four-month hold period in accordance
with applicable securities laws. The offering remains subject to final approval of the TSX
We seek Safe Harbor.
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