The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Dec. 18, 2020.
Number of shares: 9,166,667 shares
Purchase price: 30 cents per share on a postconsolidation basis
Warrants: 9,166,667 share purchase warrants to purchase 9,166,667 shares (The warrants are subject to an acceleration clause, such that if the common shares of the company trading on the exchange is greater than $1.40 for 10 consecutive trading days after four months and one day from the closing date, the company may accelerate the warrant expiry date to the date that is 30 calendar days following the date a news release is issued by the company announcing the reduced warrant terms.)
Warrant exercise price: $1 for a one-year period on a postconsolidation basis
Number of placees: 64 placees
Insiders: investor company in trust for Peter Lacey, 1.5 million;
Thomas A. Smeenk, 70,000
Total pro group involvement: 1,195,333 (eight placees)
Finders' fees: PI Financial Corp., $69,633.20 cash and 232,111 finder's warrants;
Leede Jones Gable Inc., 5,600 finder's warrants;
Fidelity Clearing Canada ULC, $720 cash and 2,400 finder's warrants;
Stryker 11 Inc., $112,326.80 cash and 374,423 finder's warrants;
1275192 B.C. Ltd., $11,640 cash and 38,800 finder's warrants;
Timothy Chang, $24,000 cash and 80,000 finder's warrants (Each finder's warrant will be exercisable for one common share of the company at an exercise price of 30 cents on a postconsolidation basis for a 12-month period from the date of issuance.)
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