Use of available Funds (1M) USE OF AVAILABLE FUNDS What will our available funds be upon the closing of the Offering?
The expected availability of funds following the closing of the Offering is as set out in the below table:
Assuming 100% of Offering(1)
A Amount to be raised by this offering $1,000,000
B Selling commissions and fees(2) $nil
C Estimated offering costs (e.g. legal, accounting, audit) $30,000
D Net proceeds of offering: D = A – (B + C) $970,000
E Working capital as at most recent month end(4) ($2,059,107)
F Additional sources of funding(4) $8,625,000 G Total available funds: G = D + E + F $7,535,893