The TSX Venture Exchange has accepted for filing the documentation with respect to a brokered private placement announced on May 16 and June 13, 2011.
Shares: 2,127,659
Price: $2.35
Warrants: 2,127,659 warrants to purchase 2,127,659 common shares
Exercise price: $2.85 for 24 months following the closing of the private placement
Hidden placees: 25
Pro group: Ken Hartviksen 15,425
Agents' fees: Mackie Research Capital Corp., Global Hunter Securities LLC, Jacob Securities Inc. and Versant Partners Inc. received an aggregate of $328,781 in cash and non-transferable compensation options to purchase 134,750 units at an exercise price of $2.35 for a period of 24 months following the closing date of the private placement. Each unit comprises one common share and one warrant. Each warrant allows the holder to purchase one common share at an exercise price of $2.85 during a period of 24 months following the closing date of the private placement.