The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced on March 1, 2023.
Number of shares: 10,433,899 shares
Purchase price: 60 cents per share
Warrants: 5,216,949 share purchase warrants to purchase 5,216,949 shares
Warrant exercise price: 80 cents for a three-year period
Number of placees: 59 placees
Total existing insider involvement: 124,966 (two insiders)
Total pro group involvement: 325,100 (five pro groups)
Agents' fees: Paradigm Capital Inc., $198,341.20 cash and 330,569 broker warrants;
Red Cloud Securities Inc., $126,217.13 cash and 210,362 broker warrants;
Beacon Securities Ltd., $36,062.04 cash and 60,103 broker warrants
(Each broker warrant is non-transferable and is exercisable into one common share of the company at a price of 60 cents per share for a period of 24 months from the closing date.)
The company issued a news release on March 10, 2023, confirming the closing of the private placement. 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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