RE:RE:RE:RE:RE:RE:RE:RE:RE:Zancudo
you are wrong..read on sedar:
August27, 2020– Vancouver, British Columbia – ESV Resources Ltd. (formerly, E.S.I. Environmental SensorsInc.) (TSXV: ESV.H)(the “Company”) announces that it has completed a consolidation of the Company’s common share capital on a one-for-sevenbasis (the “Consolidation”), and has changed its name (the “Name Change”) to “ESV Resources Ltd.”Followingcompletion of the Consolidation, the Company has issued21,428,571 post-Consolidation units(each, a “Unit”) by way of non-brokered private placement (the “Private Placement”). The Unitswereoffered at a price of $0.07 per Unit, for gross proceeds of $1,500,000. Each Unit consists of one post-Consolidation common share and one-quarter-of-one transferable share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire an additional post- Consolidation common share at a price of $0.10 until August27, 2021.The Company intends to use the net proceeds of the Private Placement to pay down existing trade payables, to cover the costs associated with the Consolidation and Name Change, to satisfy continuous disclosure and regulatory obligations, and to evaluate potential strategic acquisition opportunities. No finders’ fees or commissions were paid in connection with completion of the Private Placement.In addition to the Private Placement, the Company has also settled (the “Debt Settlement”) outstanding indebtedness of $300,000, owing to certain arms-length creditors, through the issuance of 4,285,714 post- Consolidation common shares at a price of $0.07 per share.