RSS SubscribeMarch 2, 2021
Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Feb. 4, 2021.
Number of shares: 2,564,104 shares
Purchase price: 78 cents per share
Warrants: 2,564,104 share purchase warrants to purchase 2,564,104 shares (The warrants are subject to an acceleration clause, such that if the closing price of the company’s common shares trading on the exchange is equal to or exceeds $1.45 for 10 consecutive trading days, the company may, at its discretion, issue a news release and provide notice to the holders to accelerate the warrant expiry date to the date that is 45 days from the date the notice is given.)
Warrant exercise price: 98 cents for a two-year period
Number of placees: 171 placees
Insider/pro group participation: none
Finders’ fees: $152,000 cash payment and 194,872 broker warrants payable to Canaccord Genuity Corp.; $800 cash payment and 1,026 broker warrants payable to Haywood Securities Inc.; $800 cash payment and 1,026 broker warrants payable to The Basran Wealth Management Group (Each broker warrant will be will be non-transferable and will be exercisable for one common share of the company at an exercise price of 98 cents for a period of two years from the date of issuance.)