Proposed FinancingUntil March 31, 2009..............
The TSX Venture Exchange (the "Exchange") is mindful of the current difficult market environment faced by many of its listed issuers. Effective as of the date of this bulletin, the Exchange will consider granting temporary relief from certain policy requirements on a case by case basis in order to assist listed issuers who, due to this difficult market environment, are facing conditions of immediate or imminent financial hardship.
The availability of this temporary relief will extend until March 31, 2009 (the "Temporary Period"). Issuers intending to rely on any waiver from policy due to this difficult market environment must apply in writing to the Exchange. Circumstances, for which relief required as a result of the current difficult market environment will be considered, are set out below.
3. Pricing
(a) During the Temporary Period, listed issuers may apply to the Exchange to issue shares under Private Placements for less than $0.05 per share provided the minimum price is no less than the last closing price of those shares and 75% of the Private Placement is subscribed for by Persons who are at arm's length to the listed issuer.
(b) During the Temporary Period, listed issuers may apply to the Exchange to issue warrants under Private Placements at a minimum price of $0.05 for the first 12 months of the warrants' term, provided that 75% of the Private Placement is subscribed for by Persons who are at arm's length to the listed issuer and, at the end of the first 12 months of the warrants' term, the exercise price for any unconverted warrants increases to a minimum of $0.10 for the remainder of the term.
So what all this means is that HAO will announce a PP between now and March 31, 2009 if they get the price down a little more to finance the company at a penny. I think at that price they will have enough shares to dump into the market on their next promotion of ..... what's the flavor of the day......say real estate mortgage protection insurance to possibly retire. After all, Habanero is one of, if not the smallest market capitalized company, that has interests in ......the real estate mortgage protection insurance market.
LOL this is of cource just MHO.
GLTA