The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement as announced in a news release dated Oct. 15, 2019.
Number of securities: 4.99 million flow-through common shares
Purchase price: $1.80 per flow-through common share
Warrants: 2,495,000 common share purchase warrants to purchase 2,495,000 non-flow-through common shares
Warrant exercise price: $1.50 until May 21, 2021
Number of placees: 48 placees
Insider: 2176423 Ontario Ltd. (Eric Sprott), two million
Finders' fees: PI Financial Corp., Generic Capital Corp., Canaccord Genuity Corp. and Laurentian Bank Securities Inc. received a cash commission equal to 6 per cent of the aggregate proceeds, excluding proceeds from the issuance of flow-through common shares on the president's list for which a commission of 3 per cent of such gross proceeds was be paid by the issuer. The underwriters also received 256,799 non-transferable warrants to purchase 256,799 common shares at a price of $1.50 per share for a period of 18 months.
The company has confirmed the closing of the private placement in news releases dated Nov. 7, 2019, and Nov. 21, 2019.
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