The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Sept. 12, 2023, Sept. 17, 2023, Sept. 28, 2023, Nov. 2, 2023, and Nov. 17, 2023.
Number of shares: 47,721,500 shares
Purchase price: 2.5 cents per share
Warrants: 47,721,500 share purchase warrants to purchase 47,721,500 shares
Warrant exercise price: five cents for a five-year period, subject to an acceleration clause
Number of placees: 21 placees
Total existing insider involvement: 26.1 million (five insiders)
Total pro group involvement: 400,000 (one pro group)
Finder's fee: $11,235 cash, 2.5 million shares and 449,400 warrants
Finder's warrant terms: Each warrant entitles the holder to purchase one common share at the price of five cents for period of five years from the date of issuance.
The company issued a news release on Nov. 28, 2023, confirming the closing of the private placement.
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