Private Placement!!!Int'l Frontier 3.83-million-unit private placement
2004-07-16 16:30 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to the non-brokered private placement (second and final tranche) announced May 13, 2004, and May 17, 2004.
Shares: 3.83 million units
Price: 80 cents per unit
Description: Each unit consists of one common share and one Series A warrant. Two Series A warrants entitle the warrantholder to purchase one share and one Series B warrant at a price of $1.15 for a period of 180 days from closing. If, after the issuance of the Series A warrants, for 20 consecutive trading days on the exchange, the average closing price of the common shares of the company is at a price equal to or greater than $1.38, the company will give notice to the holders of the Series A warrants and the holders will have 15 days to exercise the Series A warrants whereupon the Series A warrants will expire.
Placees: 52
Pro group participation: Maria Pedrosa, 100,000; Peter Ross, 25,000; John Rybinski, 100,000; John Tognetti, 50,000; Noelle Tognetti, 200,000; Jim Neidermayer, 60,000
Finder's fees: 15,000 shares payable to Emerging Equities Inc.; 35,000 shares payable to Research Capital Corporation; 237,500 shares payable to Haywood Securities Inc.; 1,500 shares payable to Leede Financial Markets Inc.; 2,500 shares payable to Raymond James Ltd.; 15,000 shares payable to First Associates Investments Inc.