The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Nov. 8, 2018.
Number of shares: 4.95 million shares
Purchase price: five cents per share
Warrants: 4.95 million share purchase warrants to purchase 4.95 million shares
Warrant initial exercise price: eight cents (In the event that the company's common shares have a closing price on the TSX Venture Exchange of greater than 11 cents per share for a period of 20 consecutive trading days, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof and, in such case, the warrants will expire on the 30th day after the date on which such notice is given to the holders.)
Warrant term to expiry: one year
Number of placees: 17 placees
Finder's fee: Ascenta Finance Corp., $15,800 cash and 316,000 warrants
Finder's warrant terms: Each broker's warrant entitles the holder to purchase one unit at five cents. Each unit consists of one share and one share purchase warrant for purchase of one share at eight cents for one year from closing.
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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