RE:RE:RE:RE:RE:RE:RE:Buyingbigcomeback wrote: He provided his own capital of $50,000. And just because a first tranche is announced, doesn't mean they have to keep it open. They can decide to close it. Otherwise I would have taken more instead of buying in the open market. With the placement you get a full warrant at 10 cents. Better than shares at 4 on their own imo.
In connection with the Offering, the Company issued 1,000,000 Units to Andrew Skafel, the CEO and a director of the Company. As a result, the Offering constitutes a “Related Party” transaction pursuant to TSXV Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on section 5.5(a) and on section 5.7(1)(a) of MI 61-101 as the fair market value of the Related Party participation in the Offering is not more than 25% of the Company’s market capitalization.
The securities issued pursuant to the Offering have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements.
About Edgewater Wireless