TSX Venture ACCEPTANCE Functional Technologies 9,626,000-share placement
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2012-10-05 16:10 ET - Private Placement
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The TSX Venture Exchange has accepted for filing documentation with respect to the second and final tranche of a non-brokered private placement announced July 16, 2012, and amended on Sept. 24, 2012, Sept. 25, 2012, and Oct. 3, 2012:
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Number of shares: 9,626,000 shares in the second tranche
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Purchase price: 20 cents per share
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Warrants: 9,626,000 share purchase warrants to purchase 9,626,000 shares in the second tranche
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Warrant exercise price: 30 cents for a two-year period
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If the closing price of the company's shares is 60 cents or higher for 10 consecutive trading days, then the company may give notice to shorten the expiry of the warrants to within 30 days of the notice.
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Number of placees: 52 placees in the second tranche
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Insider participation: AlphaNorth Asset Management (Steven Palmer) 875,000
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Pro group participation: Ronald White 200,000, Richard Newbury 88,000, Gail Taylor (Richard Newbury) 125,000, Chris Wardle 425,000, Marianne Wardle 375,000
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Finders' fees: Mackie Research Capital Corp. will receive $18,000 cash and 90,000 finder's warrants. Canaccord Genuity Corp. will receive $20,800 cash and 104,000 finder's warrants. Haywood Securities Inc. will receive $84,016 cash and 420,080 finder's warrants. Jones, Gable & Company Ltd. will receive $14,400 cash and 72,000 finder's warrants.
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The finder's warrants will have the same terms and conditions as the private placement Warrants