Documentation of Private Placement Filed.Note the insiders (Richardson Ventures and Jim Maier) and that there were 36 placees in the placment. It would be interesting to learn which institutions were involved.
Private Placement-Brokered
12/4/03
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Brokered Private Placement announced November 6, 2003:
Number of Shares: 7,323,420 shares
Purchase Price: $1.70 per share
Number of Placees: 36 placees
Insider / Pro Group Participation:
Insider=Y / Name ProGroup=P / # of Shares New Insider=N [in the event warrants are exercised] Richardson Ventures Inc. Y 600,000 James Edwin Maier Y 20,600
Agent: National Bank Financial Inc. and Paradigm Capital Inc.
Agent's Fee: Compensation options will be issued to the Agents in proportion to the number of common shares sold by them, exercisable to acquire that number of common shares as is equal to 6.5% of the number of common shares issued pursuant to the offering.
Commission: A cash commission will be paid to the Agents, in
proportion to the number of common shares sold by each Agent, equal to 7.5% of the gross proceeds raised from the offering.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.