The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced March 19, 2018.
Flow-through (FT) shares
Number of FT shares: 4,223,571 flow-through shares
Purchase price: 70 cents per flow-through share
Non-flow-through (NFT) shares
Number of NFT shares: 9,176,940 non-flow-through shares
Purchase price: 60 cents per non-flow-through share
Warrants: 4,588,470 share purchase warrants to purchase 4,588,470 shares
Warrant initial exercise price: 90 cents
Warrant term to expiry: two years
Number of placees: 84 placees
Insiders: Andrew MacRitchie, 20,000; Walter Coles, 41,666; Borden Putnam, 104,708
Total pro group involvement: 301,000 (five placees)
Agents' fees: PI Financial Corp. and syndicate, $456,609 cash and 718,846 warrants;Gerhard Merkel, $16,000 cash and 26,666 warrants; Elemental Capital Partners, $2,800 cash and 4,667 warrants
Agent's warrant initial exercise price: 70 cents
Agent's warrant term to expiry: 12 months
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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