The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Oct. 26, 2020.
Number of shares: 27,083,333 shares
Purchase price: 24 cents per share
Warrants: 13,541,667 share purchase warrants to purchase 13,541,667 shares
Warrant initial exercise price: 40 cents
Warrant term to expiry: one year
Number of placees: 125 placees
Total pro group involvement: 1,258,334 (eight placees)
Finders' fees: German Mining Networks GmbH, $15,091.18 cash and 62,880 warrants (The warrants are subject to accelerated expiry such that in the event that, after four months and one day after the warrants are issued, the closing price of the common shares is at or above 80 cents per common share for 10 consecutive days, the company may provide notice to the holder that the expiry date of the warrants has been accelerated and that warrants not exercised within 30 days of the date of the acceleration notice will expire 30 days from the date of the acceleration notice.); Gerhard Merkel, $25,280.12 cash and 105,334 warrants (subject to accelerated expiry); T-Bone Ventures Inc., $3,840 cash; Mackie Research Capital Corp., $19,200 cash and 80,000 warrants (subject to accelerated expiry); PI Financial Corp., $235,744.01 cash and 982,267 warrants (subject to accelerated expiry); Hampton Securities Inc., $2,880 cash and 12,000 warrants (subject to accelerated expiry)
Finder's warrant initial exercise price: 40 cents
Finder's warrant term to expiry: valid for one year
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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