May 11 2010 rest 15 million expires on may 11
Pursuant to the Final Closing under the Private Placement, Contact raised aggregate gross proceeds of
$1,260,500 through the issuance of 15,756,250 units (the “Units”) of Contact at a price of
.08 per
Unit. Each Unit is comprised of one common share and one warrant (a “Warrant”). Each Warrant
entitles the holder thereof to purchase one common share at a price of
.12 for a period of 24 months
from the date of issuance.
In connection with the Final Closing of the Private Placement, Contact paid finder’s fees in the amount
of $126,000 via the issuance of 1,575,625 Units and issued 1,575,625 finder’s warrants (“Finder’s
Warrants”). The Finder’s Warrants have the same terms and conditions as the Warrants.