The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Feb. 14, 2019.
Convertible debenture: $3,997,500
Initial conversion price: 14 cents per common share
Term of maturity: three years
Interest rate: 8 per cent
Warrants: 13,436,969 share purchase warrants to purchase 13,436,969 shares
Initial exercise price: 17 cents
Term to expiry: two years
Number of placees: one placee
Finder's fee: Alexey Mikhaylovskiy, 1,662,499 shares (The finder was issued 5 per cent of the value of each instalment when and if it is drawn by the company by the issue of common shares at a conversion rate of 1.33 (fixed) and a share price of 12 cents.)
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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