The company's short form base shelf prospectus dated March 13, 2019, was filed with and accepted by the TSX Venture Exchange, and filed with and receipted by the British Columbia Securities Commission, pursuant to the provisions of the Securities Act (British Columbia) and the Ontario Securities Commission, pursuant to the provisions of the Securities Act (Ontario), on March 14, 2019. The prospectus was also filed under Multilateral Instrument 11-102, Passport System, in Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador. A receipt for the prospectus is deemed to be issued by the regulators in each of those jurisdictions, if the conditions of the instrument have been satisfied.
The TSX Venture Exchange has accepted for filing documentation with respect to an offering of an aggregate of 10,344,827 units of the company at a price of 29 cents per unit for total gross proceeds of approximately $3-million. The offering was made pursuant to a prospectus supplement dated Jan. 7, 2020, to the company's short form base shelf prospectus dated March 13, 2019.
The TSX Venture Exchange has been advised that closing of the offering occurred in two tranches: 7,596,551 units were issued on Feb. 6, 2020, for gross proceeds of approximately $2,203,000; and 2,748,276 units were sold on Feb. 14, 2020, for gross proceeds of approximately $797,000.
Offering: 10,344,827 units (Each unit consists one share and one common share purchase warrant.)
Unit price: 29 cents per unit
Warrant exercise price/term: 38.5 cents per share for a period of five years following the date of issuance
Agents' warrants: none
Greenshoe option: none
For further information, please refer to the company's short form base shelf prospectus dated March 13, 2019, the prospectus supplement dated Jan. 7, 2020, which are available under the company's SEDAR profile, and the company's news releases dated Jan. 6, 2020, Feb. 6, 2020, and Feb. 14, 2020, which are available under the company's SEDAR profile.
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