so now we have 150 million outstanding shares? Insiders pock 2023-03-08 21:26 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Jan. 26, 2023, and Feb. 7, 2023.
Number of shares: 28 million shares
Purchase price: 25 cents per share
Warrants: 14 million share purchase warrants to purchase 14 million shares
Warrant exercise price: 45 cents for a two-year period
Number of placees: 37 placees
Total existing insider involvement: 1.3 million (five insiders)
Total pro group involvement: 600,000 (two pro groups)
Finder's fee: $449,400 and 1,797,600 warrants
Finder's warrant terms: Each finder's warrant is non-transferable and entitles the holder to purchase one unit at the price of 25 cents for period of two years from the date of issuance. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the company at a price of 45 cents per share for a two-year period from the date of issuance of the finder's warrants.
The company issued news releases on Feb. 15, 2023, and Feb. 22, 2023, confirming the closing of the first and second (final) tranches of the private placement. Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
© 2023 Canjex Publishing Ltd. All rights reserved.