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Velocity Minerals Ltd (3)
Symbol C : VLC
Shares Issued 74,886,759
Close 2019-03-15 C$ 0.275
Recent Sedar Documents

Velocity Minerals private placement

2019-03-15 20:08 ET - Private Placement - Debenture

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Jan. 17, 2019.

Number of shares:  18.6 million shares

Purchase price:  21 cents per share

Warrants:  9.3 million share purchase warrants to purchase 9.3 million shares

Warrant exercise price:  25 cents for a three-year period

Number of placees:  one placee

Plus

Convertible debenture:  $5,094,000

Conversion price:  convertible into common shares at 25 cents per share

Maturity date:  five years after the closing of the private placement

Interest rate:  8.5 per cent per annum compounded semi-annually

Number of placees:  one placee

Advisory fee:  $382,500 and 459,418 common shares, payable to Haywood Securities Inc.

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