The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Dec. 6, 2022, and increased on Dec. 7, 2022, and Dec. 8, 2022.
Number of shares: 10.5 million non-flow-through (NFT) shares;
8,333,333 flow-through (FT) shares;
4,711,900 premium flow-through (PFT) shares
Purchase price: 10 cents per NFT share;
12 cents per FT share;
14.7 cents per PFT share
Warrants: 23,545,233 share purchase warrants to purchase 23,545,233 shares
Warrant exercise price: 15 cents for a three-year period
Number of placees: 53 placees
Total existing insider involvement: 583,333 FT (two placees)
Total pro group involvement: 1,253,000 FT (four placees)
Finder's fee: $56,155.68 cash and 490,764 warrants
Finder's warrant terms: Each warrant entitles the holder to purchase one common share at the price of 15 cents for a period of three years from the date of issuance.
The company issued news releases on Jan. 3, 2023, Jan. 17, 2023, and Jan. 18, 2023, confirming the closing of the private placement. Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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