Consolidation Near!
Nanostruck to issue 6.48 million shares to pay for fees
2014-06-18 22:34 ET - News Release
Mr. Raj Kurichh reportsNANOSTRUCK ANNOUNCES ISSUANCE OF SHARES AND STOCK OPTIONS PURSUANT TO CONSULTING AGREEMENTSNanostruck Technologies Inc. will issue shares to a third party consultant and certain key management for amounts owed for consulting fees. The company will issue a total of 6,480,538 common shares of the company at a deemed value of eight cents per share, which is greater than or equal to the discounted closing market price prior to the date of this news release in accordance with the Canadian Securities Exchange policy.In connection with the issuance of the shares, the company is also issuing 1,453,850 warrants exercisable at 13 cents per share for a term of three years.
The company has also granted stock options to purchase a total of 1.15 million common shares at an exercise price of 15 cents per share for a period of three years, in accordance with the provisions of the company's stock option plan. The option exercise price was set pursuant to CSE policies, whereby the exercise price must not be lower than the greater of the closing market prices on: (a) the trading day prior to the option grant date and (b) the date of the option grant.
6,480,538 + 1,453,850 + 1,150,000 +85,052,508=94,136,896