TheTSX Venture Exchange has accepted for filing documentation with respectto a non-brokered private placement announced Nov. 4, 2010, and Nov. 19,2010.
Shares: 8,571,442 shares
Purchase price: 70 cents per share
Warrants: 4,285,721 share purchase warrants to purchase 4,285,721 shares
Warrant exercise price: $1 for a two-year period. The warrants have anacceleration provision such that if the closing price of the company'sshares is $1.25 or greater for a period of 10 consecutive trading daysfollowing the expiry of the hold period, then the company may give noticethat the warrants will expiry 30 days after such notice.
Hidden placees: 21
Pro groups: Frank Stronach 15,000;John Tognetti 1,557,857
Finders' fees: Axemen Resource Capital Ltd. receives $57,899.80, 248,144finder's units, with the same terms as the above private placement, and330,858 non-transferable finder's warrants, each exercisable for one shareat a price of 70 cents for an 18-month period and subject to the sameacceleration provision as above.Haywood Securities Inc. receives 128,571 finder's units, with the same termsas the above private placement, and 128,571 non-transferable finder's warrants,each exercisable for one share at a price of 70 cents for an 18-month periodand subject to the same acceleration provision as above.Raymond James Ltd. receives $11,999.99 and 17,143 non-transferable finder'swarrants, each exercisable for one share at a price of 70 cents for an 18-monthperiod and subject to the same acceleration provision as above.MGI Securities Inc. receives $17,999.98 and 25,714 non-transferable finder'swarrants, each exercisable for one share at a price of 70 cents for an 18-monthperiod and subject to the same acceleration provision as above.